The Small Industries Development Bank of India (SIDBI) has joined hands with the Meghalaya government to develop an ecosystem for small and medium businesses.
SIDBI has entered into a Memorandum of Understanding (MoU) with the Meghalaya Infrastructure Development and Finance Corporation Ltd (MiDFC) to develop the MSME ecosystem in the state, SIDBI said in a release.
SIDBI is the country’s principal financial institution for Micro, Small and Medium Enterprises (MSMEs).
Under the MoU, SIDBI and the state government will work closely to facilitate the development of the MSME ecosystem in Meghalaya.
Under the MoU, SIDBI and Government of Meghalaya shall work closely to facilitate development of MSME ecosystem in the State. MoU’s few broad objectives includes Entrepreneurship Development in the State, Development of MSME clusters, Capacity building of NGOs/ development organisations/ MSMEs, Support and showcase replicable livelihood projects aligned to the priority identified by State, Expanding the digital offerings for MSMEs in the state, Mapping State specific livelihood opportunities through expert consultants, Extension of Promotion and Developmental initiatives of SIDBI in the State, Building capacity of MSMEs using online platforms PSB 59, Mitra portals, GeMS, TReDS etc., Initiating business information and Counselling Centres for micro enterprises, and Capacity building of the State Agencies working for development of the MSMEs in the State; etc.
The MoU was exchanged by Meghalaya finance commissioner and secretary, Dr. Vijay Kumar D and CEO, MiDFC and V Satya Venkata Rao, Deputy Managing Director, SIDBI.
