World Bank to give $750 million funding support to MSMEs

Posted on July 3rd, 2020 Last modified on July 3rd, 2020 Comments

sfg-2026

ForumIAS LATEST

1. 1. FRC 2027: SFG Residential program | accepting application for Tranche-2 Click Here to know more →
  2. CSAT Classes for Prelims 2027 by Rishi Bhargav sir starts 16 Nov. at 5 PM Click Here to know more →
  3. Prelims Sprint classes 2027: Starts 2nd Nov. at 4:30 PM | First class open to all. Click Here to know more →

News: The World Bank’s Board of Executive Directors has approved a $750 million MSME Emergency Response program for India.

Facts:

MSME Emergency Response program: It aims to support increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs) which are severely impacted by the COVID-19 crisis.
Impact: It 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.

Additional Facts:

Accelerating India’s COVID-19 Social Protection Response Program (PMGKY): It is a World Bank’s programme to support India’s efforts at providing social assistance to the poor and vulnerable households severely impacted by the COVID-19 pandemic.

Print Friendly and PDF