World Bank offers $750 mn for India’s coronavirus-hit MSMEs

New Delhi: The World Bank announced a $750 million MSME Emergency Response program to support increased flow of finance to micro, small, and medium enterprises (MSMEs), severely impacted by the COVID-19 crisis.

This 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. This is the first step among a broader set of reforms that are needed to propel the MSME sector over time, it said in a statement.

 

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