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World Bank approves $750 mn emergency response fund for India's MSME sector

This takes the World Bank's total commitment to $2.75 billion to support India's emergency Covid-19 response

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In a release, the World Bank said that the organisation seeks to consolidate the MSME infra which it considers to be the back of Indian economy

BS Web Team New Delhi

2 min read Last Updated : Jul 01 2020 | 12:12 PM IST

The World Bank on Wednesay approved a $750 million loan to support increased flow of finance into the hands of India's micro, small, and medium enterprises (MSMEs), severely impacted by the Covid-19 crisis.

The World Bank’s MSME Emergency Response program will aim to 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. This takes the World Bank's total commitment to $2.75 billion to support India’s emergency Covid-19 response.

The first $1 billion emergency support was announced in April this year for

Topics : Coronavirus World Bank Group MSME sector

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