Mumbai: Yes Bank Ltd has raised 1,250 crore through an unsecured loan from the Asian Development Bank (ADB) to lend to small households and self-help groups (SHGs) in rural areas.

Todd Freeland, director general of ADB’s private sector operations, said the Manila-based development finance institution will also provide technical assistance to women low-income earners and their families.

“In addition to income generation via female self-help groups, the project targets small farmers to allow them to benefit from agricultural value chains and enhance their productivity through better access to markets and investment finance," Freeland said in a statement.

Besides the loan, ADB will also provide a technical assistance grant of up to $1 million to help Yes Bank improve financial literacy of women borrowers.

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