SIDBI to receive £36 mn from DFID

KOLKATA: Small Industries Development Bank of India (SIDBI) has received a fresh infusion of £36 Mn from UK’s Department for International Development (DFID) to fund growth projects in Bihar, Orissa, Uttar Pradesh and Madhya Pradesh.

The fund is expected to be used for developing the skills of rural producers, artisans and will also be used for capacity building of microfinance institutions in North India.

While SIDBI has been appointed the implementing agency for the fund, National Bank for Agriculture & Rural Development (NABARD) and ITC are also expected to take part in the programme.