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World Bank Loc
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World Bank LOC
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A Line of Credit of USD 120 million, earmarked to facilitate increased flow of loans, was contracted and successfully utilized.
- This line has benefitted 927 MSMEs in 13 locations. The Loc contracted were fully utilized in 18 months compared to target of 36 months.
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The Project’s strong performance results are captured in the findings of a baseline survey and evaluation report (prepared by SIDBI) which shows that more than 300 MSMEs that were surveyed have reported 18% growth in sales and 17% growth in profits after availing long term finance from SIDBI.
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Two thirds of the MSMEs financed allocated their resources to technology up gradation in turn increasing productivity.
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A review undertaken by the Bank shows that Project outcomes have well exceeded the intermediate target values for all the key outcome indicators.
Additional Financing: World Banks extends line of credit by USD 400 million
Following the success of first LoC the Word Bank agreed to provide additional LoC of USD 400 million into the Project, expanding to new geographical areas and offering new products.
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Latest News
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