SKS, Citibank announce rural micro-finance programme

Hyderabad, May 9 (UNI) Citibank and Swayam Krishi Sangham (SKS) today announced a Rs 180 crore financing programme, which would give income generating loans of up to Rs 20,000 to poor families during 2007-08.

According to a release here, SKS Chief Executive Officer Vikram Akula said the programme encompassed 49 rural branches of SKS in 11 States. Under the partnership, the origination and servicing of loans would rest with SKS.

Citibank Global Director for Micro-Finance Robert Annibale said ''this innovative financing structure provides risk participation and funding diversification that would support SKS's significant growth plans.'' UNI AP VA GD 1625