German DEG, Citi to provide $76 million funding to Shriram Finance

German development finance institution DEG and Citi on Thursday announced providing a USD 76-million co-financing package to Shriram Finance Ltd, aimed at accelerating economic inclusion, rural development, and climate-aligned mobility pan-India.
Under this, while DEG (Deutsche Investitions- und Entwicklungsgesellschaft mbH) has provided a 40 million euro loan (around USD 46 million) and Citi has extended a Rs 260 crore loan to the NBFC, a statement said.
This collaborative and innovative financing is designed to strengthen the company’s outreach to priority segments that remain underserved in India’s credit ecosystem, it said, adding Citi acted as a lead arranger and coordinator for this financing.
This is the second such collaboration between the two co-financing partners following the successful transaction supporting CreditAccess Grameen in 2024, underscoring the institutions’ shared commitment to advancing inclusive and climate-positive financing in India, the statement said.