India Signs Loan Agreement of $ 500 Million With World Bank To Improve Access To MSMEs

31 March, New Delhi

With an objective to improve access to finance of MSMEs in manufacturing and service sectors,India Tuesday entered into a loan agreement of 500 million dollars with the World Bank for five years with Small Industries Development Bank of India as its implementing agency.

The objective of the project would be to improve access to finance of Micro, Small and Medium Enterprises (MSMEs) in manufacturing and service sectors from early to growth stage, including through innovative financial products, the Finance Ministry said in a statement.

The project will also support growth and employment creation through unlocking opportunities for firm growth that the financing would provide, it added. Funded MSMEs will be the primary beneficiaries