SIDBI signs loan financing agreement with Germany's KfW

Small Industries Development Bank of India (SIDBI) has entered into loan and financing agreement of 100.50 million euros with Kreditanstalt fur Wiederaufbau (KfW), Germany.

The loan agreement for 100 million euros and financing agreement for 500,000 euros between Kreditanstalt fur Wiederaufbau (KfW) of Germany and SIDBI for the Micro and Small Enterprises (MSEs) was signed for "missing middle segment", a statement said.

The missing middle segment denotes financing gap in small loans ranging between Rs 50,000 and Rs 10,00,000 which has a big influence on promoting entrepreneurship and deepening the positive social and environmental benefits, it said.

The agreement would provide SIDBI with long tenor funding to support "Missing Middle" segment of Micro and Small enterprises through specific financing programmes by Participating Financial Institutions (PFIs).

Read more about: sidbi
Story first published: Friday, June 28, 2013, 9:21 [IST]
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