The pan-African financial institution will use the funds to finance the green transition through sustainable infrastructure in Africa.

An 11-member committee, headed by Grameen Bank Chairman Prof Dr A K M Saiful Majid, has been formed to look into the cost of the MFI's services and to determine if there is any scope to reduce the charges.

The funds will allow Banco D-Miro to continue the expansion of its microcredit lending activities in Ecuador.

According to the release, the partnership was inked at the eighth Tokyo International Conference on African Development, and is among the first to involve an African fintech company.

Both products offer combined insurance cover against heavy wind and rainfall and are designed to offer immediate financial support after extreme weather events.

The talks will center on how India will incorporate financial inclusion and digital economy into its G20 agenda.

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Through this new facility the fintech lender will be able to channel the funds via its range of tailored financing solutions across SME segments across all its five markets.

The investment will help promote greater market competitiveness by bolstering competition in the micro, small and medium enterprises (MSMEs) financing market through a capital market solution.

This is the first step in the organizations' joint effort to expand and strengthen the low-income housing finance sector in Tanzania.