SIDBI Announced 1000 Cr 'Make in India' Fund for MSMEs

The Small Industries Development Bank of India (SIDBI) has set up a Rs 1000 crore ‘Make in India’ fund for the MSMEs with the view to make them world class manufacturing hub.

Under the fund, concessional finance will be provided to the identified MSME sectors, SIDBI said while holding its seventeenth AGM on June 22, 2015 at its head-office in Lucknow.

SIDBI has completed 25 years of services to the MSME sector in addressing various credit and developmental gaps in the MSME eco-system.

The bank shared that in order to promote energy efficiency in the MSME sector, it has signed an agreement with World Bank for "Partial Risk Sharing Facility for Energy Efficiency (PRSF) Projects" with a total outlay of USD 43 million, consisting of a Guarantee fund of USD 37 million and technical assistance of a total of USD 6 million.