The project aims to address social issues faced by underserved micro, small and medium enterprises and individuals in Southeast Asia, India and other emerging markets and will use the funds for new expenditures or refinancing related to the following projects.
■Credit Saison provides funds to Kisetsu Saison Finance (India) Pvt. Ltd., an India subsidiary, through equity investments and/or loans.The India subsidiary lends to local non-banks, FinTech companies and others, and these companies and the India subsidiary itself lend to MSMEs and individuals.
■Credit Saison provides funds to Saison Capital Pte. Ltd., a Singapore subsidiary, through loans.The Singapore subsidiary uses the funds to increase equity investments and/or loans to start-ups (e.g., non-banks, FinTech companies) that work on realizing financial inclusion.
In January 2022, we received an independent third-party eligibility assessment of our social bonds from Rating and Investment Information, Inc. ("R&I") as an independent third-party of evaluation of social bonds, which the Company has established a social bond framework in January 2022 that complies with the "Social Bond Principles 2021" of the International Capital Markets Association ("ICMA") and the "Social Bond Guidelines 2021" of the Financial Services Agency.
The funds raised through social bonds shall be allocated to each local subsidiary based on an investment and financing plans of each local subsidiaries for eligible projects, and shall be properly managed with SDGs Bond Fund Management file.
All the funds raised through social bonds was allotted to an appropriate loans outstanding at the end of Mar’23. On top of the funds raised through social bonds, Credit Saison added some funds and total loans outstanding to end borrower was JPY 10,228,049,937.
(As of end of Mar 2023)