On 31-03-2015, a loan agreement of US$ 500 million was signed between Government of India and the World Bank to assist Small Industries Development Bank of India (SIDBI) for MSME Growth Innovation and Inclusive Finance Project. The objective of the agreement is to improve access to finance of Micro, Small and Medium Enterprises (MSME) in manufacturing and service sectors. It also aims to provide financial support for growth and employment creation through unlocking opportunities for firm growth. The project comprise of three components: (i) Spurring Early Stage and Risk Capital Finance, (ii) Supporting service sector financing models and (iii) Supporting finance to manufacturing MSMEs. The project specifically benefits SIDBI by enhancing its financial and institutional capacity in the areas of early stage, service and manufacturing sector financing, and also supports other Participating Financial Institutions (PFIs).
–Ministry of Finance