Yes Bank, IFC signs pack for North-East PE fund

Yes Bank and International Finance Corporation (IFC) on January 31, 2013 signed a memorandum of understanding to create a fund that will make investments across sectors in north-eastern states.

“We believe that there are substantial untapped opportunities existing in the North Eastern states of India that need to be honed by the private sector in order to create local livelihood opportunities resulting in greater financial inclusion in the region,” Yes Bank MD and CEO Rana Kapoor said.

The fund corpus will focus on investments spread mainly across sectors of tourism and hospitality, food and agribusiness, infrastructure, healthcare, education, livelihood creation and affordable housing.

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