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Small Industries Development Bank of India (SIDBI) and Saarc Development Fund (SDF) has signed a Memorandum of Understanding (MOU) for mutual cooperation and collaboration.
The Finance Ministry has said in a statement that the MoU envisages SDF and SIDBI to work together in co-funding of projects in Indian MSMEs on risk sharing basis in identified sectors, development of suitable financial products for SME financing for MSMEs of other Saarc states.
It further said that the MoU also calls for technology transfer and making available software to MFIs regarding loan tracking systems in other Saarc states and capacity development of SDF/SIDBI and SME funding institutions in SAARC countries.
