Mumbai, March 27 : The Small Industries Development Bank of India (SIDBI) on Sunday said it has joined hands with the Odisha government and sanctioned Rs 837 crore for the development of MSME infrastructure projects in the state. It has sanctioned a support of Rs 837 crore under its SIDBI Cluster Development Fund Scheme (SCDF) to the Odisha government, the development of 18 MSME infrastructure projects to be implemented by Odisha Industrial Infrastructure Development Corporation (IDCO), the lender said in a statement issued here.
The projects include development of five new MSME parks, construction of 11 workers hostels and two projects for supporting infrastructure to MSMEs. Under its SCDF scheme, the SIDBI has extended moderately priced loan assistance to state governments for upgrading various existing MSME clusters, as also for creation of new industrial infrastructure in the state.
“The thrust shall be laid on clusters in sectors/sub-sectors, which can directly benefit the MSMEs in the state and to bring them to a level ‘next,’ wherein they emerge vibrant by moving higher on the value chain and becoming sustainable,” Sivasubramanian Ramann, IA&AS, CMD SIDBI said. the SIDBI will complement its offerings in the state with its customised direct lending products being channelised in supported clusters, thereby setting an example for other institutions to adopt and replicate, he added. “SIDBI shall also examine supporting the soft infrastructure issues in select clusters relating to technology, skilling/upskilling, energy efficiency, market and credit connect, on need basis,” said Ramann.
with uni inputs
