World Bank and India sign $750 million Agreement for MSME programme

World Bank and India sign $750 million Agreement for MSME programme 

Part of: GS Prelims and Mains II and III – Govt schemes and initiatives; Role of international organizations; Economy – Growth and Development 

In news: 

• World Bank and the Government of India signed the $750 million agreement for the MSME Emergency Response Programme. 
• The programme aims to support increased flow of finance into the hands of MSMEs severely impacted by the COVID-19 crisis. 
• World Bank’s MSME Emergency Response Programme will address the immediate liquidity and credit needs of some 1.5 million viable MSMEs to help them withstand the impact and protect millions of jobs. 

Do you know? 

• World Bank has to date committed $2.75 billion to support India’s emergency COVID-19 response, including the new MSME project.