New Delhi, Oct 27 (PTI) Diversified financial services platform Northern Arc Capital has raised USD 50 million (about Rs 412 crore) by issuing bonds to Dutch development bank FMO.

The funds will be utilised by the company, which mainly provides credit to MSMEs, households, financial institutions and emerging businesses, to increase inclusive and sustainable prosperity.

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In a release, Northern Arc Capital said it has successfully concluded a USD 50 million bond issuance.

The company said half of the funds raised will cater to lending towards Micro, Small, Medium Enterprises (MSMEs) and women entrepreneurs.

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The long term nature of the facility will help Northern Arc provide customised credit solutions to these customers both directly and through partners. The usage of funding will cater towards three critical United Nations Sustainable Development Goals (SDGs) of decent work and economic growth, gender equality, and reduction in inequality.

"Our diligence frameworks and processes, underpinned by technology and data science, are trusted by some of the world's most seasoned investors and have been validated by a decade long track record...we have become the preferred port of call for many global DFIs," Ashish Mehrotra, MD & CEO of Northern Arc Capital, said.

On supporting the longstanding partner Northern Arc Capital, Huib-Jan de Ruijter, Chief Investment Officer of FMO, said the company is fully committed to increasing financial inclusion and reducing inequalities with an emphasis on women-owned businesses and MSMEs.

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