SIDBI to get JICA aid for MSME initiatives

The Small Industries Development Bank of India (SIDBI) has signed a loan agreement worth about Rs 1,800 crore with Japan International Cooperation Agency (JICA) for promoting energy efficiency in Micro, Small and Medium Enterprises (MSMEs). Under the agreement, JICA will extend 30 billion Japanese yen (about Rs 1,800 crore) to promote energy saving in MSMEs in India, according to NK Maini, Deputy Managing Director, SIDBI. This is the third line of credit (LoC). The earlier two LoCs worth Rs 3,600 crore have already been utilised and nearly 4,900 MSMEs have benefited from this. The implementation of this scheme has resulted in significant saving of energy and earning
of carbon credit, he said, adding, facilitating environ-¡mental improvement and sustainable economic development in MSME eco-system.