Dvara Kshetriya Gramin Financials (Dvara KGFS) has raised $14.4 million through Listed Non-Convertible Debentures (NCDs) from Impact Investment Exchange (IIX). IIX provided Dvara debt capital through the $100 million Women’s Livelihood Bond 6 (WLB6), the largest Orange and Sustainability-labelled Bond in the market. Orange Bonds are currently the only asset class at the critical nexus of gender equity and climate action in emerging markets, a statement from the NBFC said.
As repeat beneficiaries of the WLB Series, Dvara KGFS continues the partnership with IIX, an investor who has invested over $150 million in India through the Series. Both Dvara KGFS and IIX are committed to drive positive change through innovative financial solutions, the statement mentioned.
It added that Dvara’s participation in IIX’s latest Orange Bond highlights the company’s intent to catalyse positive change while supporting the transformative work of the Orange Movement in India’s financial inclusion landscape. Together, Dvara KGFS will contribute significantly to the movement’s goal of mobilising $10 billion to empower 100 million women, girl and gender minorities by 2030.
“Dvara KGFS is a mission-oriented financial institution and has been working in the gender-inclusive finance space to empower women and help them become more economically resilient, especially in the country’s rural hinterlands. We are delighted to have received this funding from IIX as we continue to bolster our efforts to innovate and enhance our product offerings, while driving value for our customers and stakeholders,” said LVLN Murty, MD and CEO, Dvara KGFS, in the statement.
