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U GRO Capital, a technology-enabled lender to small businesses, has roped in Global Value Creation Partners (GVCP) to build a globally benchmarked environmental, social and governance (ESG) framework.
The multi-year engagement would result in GVCP helping U GRO to solve small businesses credit problem in India.
GVCP was founded by Sanjeev Goel, former Global Co‐Head of Equities for Financial Institution Group of International Finance Corporation (IFC) of the World Bank group.
As a part of the engagement, GVCP has also placed two global experts as advisors to U GRO to support in strategy, corporate and risk governance, and overall institutional development. The experts are Vincent Polizatto, a former Chief Risk Officer, Asia Pacific at IFC and William Haworth, former Chief Strategist, Chief Credit Officer and Portfolio Manager in Financial Institutions Group with IFC.
“With GVCP’s support, we are confident to create a premier institution for financing small and micro businesses,” Shachindra Nath, Executive Chairman and Managing Director of U GRO Capital said.
“MSMEs in India need efficient, fast, reliable and cost‐effective funding partner with a shared mission ‐‐ not just a lender ‐‐ to overcome the obstacles they face in realizing their potential for generating employment and economic prosperity for a large section of the society. U GRO has designed a very differentiated and smart business model for solving the access to finance problem that holds MSMEs back,” Sanjeev Goel, founder of GVCP said.
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