SIDBI ties with KfW for 53 m credit line

 The Small Industries Development Bank of India (SIDBI) today signed an agreement with Kreditanstalt fur Wiederaufbau (KfW), Germany, wherein KfW will provide €53 million euros to SIDBI for its Micro, Small and Medium Enterprises (MSMEs) Innovation Finance Programme.

The agreement was signed by SIDBI CMD S Muhnot and Director, KfW Oskar von Maltzan on September 3, 2012.

 The MSME Innovation Finance Programme seeks to promote innovations, particularly those relating to clean technologies, with the objective of fostering ecologically sustainable development in India. SIDBI will provide assistance in the form of loans, risk capital assistance or quasi-equity products.