World Bank approves $500 mn to strengthen MSMEs in India

The World Bank’s board of executive directors has recently approved a $500 million programme to support the Government of India’s nationwide initiative to revitalise the micro, small and medium enterprise (MSME) sector, which has been heavily impacted by the COVID-19 crisis. The programme targets improvements in the performance of 555,000 MSMEs.

The programme is expected to mobilise financing of $15.5 billion, as part of the government’s $3.4 billion MSME Competitiveness – A Post-COVID Resilience and Recovery Programme (MCRRP).