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 fixed interest payments every six months, and can select investment tenors from 1, 3 3, 5, 7 and even 10 years, a media release said.
Announcing the initiative at the US-India Business Council Summit, Obama had said this new public-private partnership to help millions of proud Indian-Americans directly invest in India's future.
With this investment, Indian-Americans and others will be able to support financing for businesses that tackle poverty across India, working in critical sectors like education, financial inclusion, agriculture, healthcare, water and sanitation, renewable energy and energy efficiency, a media release said.
"Diaspora members are playing an increasingly important role in economic development around the world. This Initiative goes beyond remittances, and beyond charity," said Calvert Foundation president and CEO Jennifer Pryce.
"Our work with USAID will enable us to connect members of the Indian-American diaspora to development in their country of heritage through investment," Pryce said.
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