Accion first partnered with Saija in 2008. Accion International is a USA-based non-profit dedicated to creating economic opportunity by connecting people to the financial tools they need. A global pioneer and leader in microfinance, Accion was found in 1961 and has to-date helped build 62 microfinance institutions in 31 countries on four continents, reaching 5.1 million borrowers with an active portfolio of $5.5 billion.
Saija is one of the two investments made by Accion in India since starting operations in 2006. Apart from making equity infusion in Saija, Accion also provides key management talent support and extensive high quality technical assistance in areas of Credit Methodology, Risk Management, Capacity Building and Technology upgrades. They have also provided grant support to Saija for strengthening the company in specific areas like IT infrastructure and automated loan recovery procedures. With support from Credit Suisse, Accion also provides free and regular capacity building interventions at Saija Finance.
For more details please visit www.accion.org
Pragati partnered with Saija in 2012 through an equity investment.
Setup in 2011, Pragati India Fund is an India focused private equity fund investing in small and medium sized companies with strong entrepreneurial and management capabilities. Pragati partners with businesses based out of North & Central India that are looking to grow, and works with them by providing capital and operational support. The fund has commitments from Commonwealth Development Corporation (CDC, the investment arm of the UK Government) and International Finance Corporation (IFC, the private sector arm of the World Bank).As of date, the Pragati portfolio has become a part of CDC’s India operations.
For more details please visit www.pragatifund.com
Small Industries Development Bank of India (SIDBI) SIDBI Foundation for Micro Credit (SFMC) was launched by the Bank in January 1999 for channelizing funds to the poor in line with the success of pilot phase of Micro Credit Scheme. SFMC’s mission is to create a national network of strong, viable and sustainable Micro Finance Institutions (MFIs) from the informal and formal financial sector to provide micro finance services to the poor, especially women. In keeping with its mission, SIDBI Foundation identifies nurtures and develops select potential MFIs as long term partners and provides credit support for their micro credit initiatives
For more details please visit http://www.sidbi.in/