Sidbi ties up with global bodies for revamping SMEs
The Small Industries Development Bank of India (Sidbi) has finalised an agreement with two European development agencies - DFID of UK and GTZ of Germany for a Rs183.8 crore funding support for small- and medium-sized enterprises (SMEs). This is part of the World Bank (WB) lead multi-agency project for financing and development of SMEs. According to official sources, the Department for International Development (DFID), UK is willing to offer €20m while the German Agency for Technical Co-operation (GTZ) has committed €5m. Both will be in the form of grants. The bank will soon seek the government’s approval for availing of this aid. The technical assistance programme will be run by Sidbi which will identify the facilities required by SME clusters as well as other SMEs and hire the services and experts required by the particular cluster or enterprise.
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