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2010-03-02

ADB to give $ 30 million for the development of MSME

The Asian Development Bank (ADB) has approved a loan of $ 300 million for India for the micro, small and medium enterprise (MSME) development project.

The Asian Development Bank (ADB) has approved a loan of $ 300 million for India for the micro, small and medium enterprise (MSME) development project.

 

The loan amount which will be given to Small Industries Development Bank of India (SIDBI) for implementation is divided into two parts; sovereign loan of $ 50-million and a partial credit guarantee of up to $ 250-million.

 

Around 30,000 MSMEs are expected to benefit from the project. The $ 50-million loan will go to the state-owned Small Industries Development Bank of India (SIDBI) to fund enterprises that have become too large to tap traditional micro finance.

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