Citi and DEG provides $76m loan to Shriram Finance for underserved lending

It will be used for MSMEs, EVs, food security, and women lending.

Citi and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) have jointly provided a $76m co-financing package to Shriram Finance Limited for lending to India’s underserved segments.

Shriram Finance is one of India’s largest non-banking financial services (NBFCs). The money is expected to accelerate economic inclusion, rural development, and climate-aligned mobility across India, according to a press release on 4 March 2026.

Under the loan, DEG provided an EUR40m loan, whilst Citi extended an INR260 crore loan.

DEG’s loan is for lending towards micro, small, and medium enterprises (MSMEs), electric vehicle (EV) financing, women borrowers, and customers in underserved areas.

Citi’s financing is for smallholder farmers, a segment reportedly critical to India’s food security and rural economy, yet often constrained by limited access to affordable capital, the bank said.

This is the second collaborative financing between Citi and DEG following their work with CreditAccess Grameen in 2024.