India's Small Industries Development Bank of India (Sidbi) has secured $1 billion in funding from the International Finance Corporation (IFC) to provide long-term credit to micro, small and medium enterprises (MSMEs). The IFC has already released $500 million from its own resources, with the remaining $500 million to be arranged through a syndicate. This facility offers long-term loans of up to seven years for machinery acquisition, modernisation, expansion and project funding. The credit has been swapped into INR using the Reserve Bank of India's special swap window.
Company Information
Company
Small Industries Development Bank of India
Location
India
About
The Small Industries Development Bank of India (Sidbi) is a financial institution aimed at promoting and financing small-scale industries in India. It offers various financial products and services, including venture capital and funds of funds. Sidbi plays a crucial role in enhancing the early-stage investment ecosystem in the country. The institution is instrumental in facilitating growth and providing liquidity options for investors.
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