World Bank, United Nations Entity for Gender Equality and the Empowerment of Women (UN Women), and Small Industries Development Bank of India (SIDBI) launched new social impact bonds exclusively for women, called Women’s Livelihood Bonds (WLBs), with an initial corpus of Rs 300 crore.
It will enable individual women entrepreneurs in sectors like food processing, agriculture, services, and small units to borrow around Rs 50,000 to Rs 3 lakh at an annual interest rate of around 13% to 14% or less and have a tenure of 5 years. They will be unsecured, unlisted bonds and offer a fixed coupon rate of 3% per annum to bond investors.
Source: The Hindu Business Line
Static/Current Takeaways Important for NIACL AO Mains Exam:
- World Bank Interim President: Kristalina Georgieva, Headquarters: Washington D. C.
- SIDBI Chairman & Managing Director: Mohammad Mustafa Headquarters: Lucknow.
- UN Women Executive Director: Phumzile Mlambo-Ngcuka, Headquarters: New York.