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FMO pitches $11m investment in Indian microfinance company Arohan

Funds will be used to finance post-COVID growth, boost technology

Founded in 2006, Arohan aims to provide financial services to underprivileged and low-income households in rural and semi-urban areas of India.   © Reuters

CEBU, Philippines -- Dutch development bank FMO has proposed investing 910.42 million rupees ($11.1 million) in Arohan Financial Services, one of India's leading nonbank financial companies, according to a disclosure.

The proposed investment will be used to finance Arohan's post-COVID growth, FMO said. The Indian microfinance company also plans to complement its branch network with more technology-driven services.

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