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Home arrow News arrow Business News arrow SIDBI, KfW sign Agreements for EUR 89.2M German Financial Assitance to MSMEs
SIDBI, KfW sign Agreements for EUR 89.2M German Financial Assitance to MSMEs Print E-mail
Written by Anand   
Friday, 13 November 2009
New Delhi: The German Government’s Development Bank - KfW and the Small Industries Development Bank of India (SIDBI) signed two sets of agreements today for financial assistance to promote the adoption of energy efficiency and cleaner production technologies by micro, small and medium enterprises (MSMEs) in India.

KfW will provide concessional loan and technical assistance to support financing of environmental investments in the MSME sector by SIDBI. The financial assistance totaling EURO 89.2 million (approx. Rs 622 crore) comprises the MSME Energy Efficiency Programme and the MSME Cleaner Production programme.

The MSME Energy Efficiency Programme consists of a credit line of EURO 50 million and an accompanying grant component of EURO 0.5 million for technical support; the MSME Cleaner Production programme involves a credit line of EURO 38.5 million and a grant of EURO 0.2 million for technical support.

The agreements were signed in the Ministry of Finance in the presence of Mr. Kumar Sanjay Krishna, Joint Secretary, Ministry of Finance.

The two agreements signed today further deepen the longstanding cooperation between SIDBI and KfW. Since the 1950s, various sectors in India like Energy, Financial Sector Development, Health, and Protection of the Environment and Natural Resources have received KfW support.

Last Updated ( Tuesday, 29 November 2011 )
 
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