Mumbai: SIDBI has entered into a loan agreement with KFW Germany for 53 million Euros for MSME innovation finance programme.
The MSME or medium, small and micro enterprises Innovation Finance Programme has been formulated to promote entrepreneurial innovations particularly those relating to clean technologies.
Another objective of the program is to catalyze the development of financing instruments specifically tailored to the requirements of innovative MSMEs.
SIDBI, in its press note said, the assistance will be provided in the form of loan / risk capital assistance / quasi equity products specifically tailored to meet the needs of innovative MSMEs.
SIDBI was established on April 2, 1990, under the Small Industries Development Bank of India Act, 1989. It is the principal financial institution for the promotion, financing and development of industry in the micro, small & medium enterprises sector and to co-ordinate the functions of institutions engaged in similar activities.
No comments:
Post a Comment