Pragati Fund

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The proposed project is an investment in Pragati India Fund Limited, an SME focused fund that will focus on the economically under-developed low income states (“LIS”) of India such as Bihar, Jharkhand, Uttar Pradesh, Madhya Pradesh, Chhattisgarh and Orissa. IFC’s support to the company will help Pragati to partner with existing businesses, entrepreneurs and managers who have demonstrated execution ability. Pragati’s investment strategy is to expand into low income states and rural regions where changing political, social and economic development dynamics offer new opportunities that are largely untapped. The regional orientation provides opportunities in early stage investments which leverage ideas that are successful elsewhere in the Indian context and adapt them to suit local conditions.