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World Bank Group Sanctioned loan under COVID-19 Emergency Response Program for MSMEs in India

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    7th Jul, 2020
  • A USD 750 Million loan was approved for the Micro Small and Medium Enterprises (MSMEs) in India by the World Bank Group.
  • The amount will be disbursed through Small Finance Banks (SFBs) and Non-Banking Financial Companies (NBFCs), which will further help in strengthening the SFBs and NBFCs.
  • The loan amount will be sanctioned by the lending arm of the World Bank Group- International Bank for Reconstruction and Development (IBRD).
  • There will be a grace period of 5 years and the loan amount will have a maturity of 19 years.
  • The total World Bank Group has committed to India to USD 2.75 billion under the COVID-19 response to India.

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