New Initiative Announced To Enable Diaspora Investment in India’s Development

On January 26, 2015 President Barack Obama announced  a new partnership among the U.S. Agency for International Development (USAID), Calvert Foundation and several private financial institutions in India to develop an Indian Diaspora Investment Initiative.

U.S.-based retail investors will be able to support this initiative by purchasing Community Investment Notes offered by Calvert Foundation. USAID will provide a Development Credit Guarantee to support Indian financial institutions lending to social enterprises, enabling them to raise critical investments from both Indian and U.S. investors. By purchasing these specially marketed and branded Notes, which will become available later in 2015, Indian Americans and other investors will be able to fund the growth of social enterprises in India while earning a financial and social return. The Note is an established security with a 20-year track record of performance, and is currently held by more than 5,000 investors. Investors can expect annual interest payments, and can select investment tenors from 1, 3, 5, 7 and even 10 years.

By joining forces with the diaspora, USAID will unlock new sources of investment capital and strengthen bonds that help our countries prosper.

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