A- A A+
Last Updated : Mar 7 2021 5:43PM     Screen Reader Access
News Highlights
People saved more than Rs 9,000 cr through Jan Aushadhi Kendras, says PM Modi; Calls for using affordable medicines from Jan Aushadhi Kendras            Campaigning gathers momentum for upcoming Assembly Elections; PM to address rally in Kolkata today; Film star Mithun Chakraborty joins BJP; WB CM Mamta Banerjee to address rally in Siliguri            India administers over 2 crore COVID-19 vaccine doses in just 50 days; over 30 lakh senior citizens and 4 lakh people above 45 years with co-morbidities get vaccinated in six days            Congress and DMK seal seat-sharing agreement in Tamil Nadu; Congress to contest in 25 seats            Prez Kovind addresses tribal convention in MP's Damoh; Lauds the role of tribals in conservation of natural resources           

Business News

Jul 06, 2020
7:57PM

Govt, World Bank ink 750 million US dollar agreement for MSME Emergency Response Programme

File Pic
The Government and the World Bank today signed a 750 million US dollar agreement for the MSME Emergency Response Programme.

It aims at  supporting  increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs) which are severely impacted by the COVID-19 crisis.

The World Bank’s MSME Emergency Response Programme will address the immediate liquidity and credit needs of some 1.5 million viable MSMEs to help them withstand the impact of the current shock and protect millions of jobs.

Ministry of Finance in a statement said this is the first step among a broader set of reforms that are needed to propel the MSME sector over time.

The agreement was signed by Additional Secretary in the Finance Ministry Sameer Kumar Khare on behalf of the Government  and  Country Director Junaid Ahmad,  on behalf of the World Bank.

Mr  Khare said that the COVID-19 pandemic has severely impacted the MSME sector leading to loss of livelihoods and jobs.

He said, the project will support the government in providing targeted guarantees to incentivize Non Banking Financial Companies- NBFCs and banks to continue lending to viable MSMEs to help sustain them through the crisis.

The World Bank Group, including its private sector arm - the International Finance Corporation will support the government’s initiatives to protect the MSME sector by unlocking liquidity and NBFCs and Small Finance Banks.

Mr Ahmad said that the MSME sector is central to India’s growth and job creation and will be key to the pace of India’s economic recovery, post COVID-19.

He said, the immediate need is to ensure that the liquidity infused into the system by the government is accessed by MSMEs.

Live Twitter Feed

Listen News

Morning News 7 (Mar) Midday News 7 (Mar) Evening News 6 (Mar) Hourly 7 (Mar) (1710hrs)
समाचार प्रभात 7 (Mar) दोपहर समाचार 7 (Mar) समाचार संध्या 6 (Mar) प्रति घंटा समाचार 7 (Mar) (1700hrs)
Khabarnama (Mor) 7 (Mar) Khabrein(Day) 7 (Mar) Khabrein(Eve) 6 (Mar)
Aaj Savere 7 (Mar) Parikrama 6 (Mar)

Listen Programs

Market Mantra 6 (Mar) Samayki 1 (Jan) Sports Scan 6 (Mar) Spotlight/News Analysis 6 (Mar) Employment News 6 (Mar) रोजगार समाचार 6 (Mar) World News 6 (Mar) Samachar Darshan 22 (Mar) Radio Newsreel 21 (Mar)
    Public Speak

    Country wide 12 (Mar) Surkhiyon Mein 6 (Mar) Charcha Ka Vishai Ha 11 (Mar) Vaad-Samvaad 17 (Mar) Money Talk 17 (Mar) Current Affairs 6 (Mar) Sanskrit Saptahiki 6 (Mar) North East Diary 4 (Mar)