The Small Industries Development Bank of India (SIDBI) has inked MoU with SAARC Development Fund (SDF) for mutual cooperation and collaboration.
The MoU was signed by SIDBI Deputy Managing Director A K Kapur and SDF CEO Sunil Motiwal.
- SDF and SIDBI to work together in co-funding of projects in Indian MSMEs on risk sharing basis in identified sectors.
- Development of suitable financial products for SME financing for MSMEs of other Saarc states, the Finance Ministry said in a statement.
- Technology transfer and making available software to MFIs regarding loan tracking systems in other SAARC states.
- Capacity development of SDF, SIDBI and SME funding institutions in SAARC countries.
SIDBI: It is an independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises (MSMEs).