November 28, 2023

SIDBI – Inauguration of Branch Office at Ambattur, Chennai

extended in the form of term loan at concessional rates to the State Governments for covering the projects involved in the development of MSME eco-system.  SIDBI has sanctioned 12 proposals aggregating around Rs.400 crore to GoTN and disbursed Rs.84.38 crore so far under SCDF.   He indicated that it is heartening to note that the two projects funded by SIDBI under SCDF in the Ambattur Industrial Estate for construction of Workers’ Hostel (with 134 rooms to accommodate 800 industrial workers) and construction of 112 Plug & Play Flatted Factory Modules respectively have been progressing well at a faster pace and are almost nearing completion.  He also indicated that these projects could be documented and presented as success stories for replicating in other States.

About SIDBI:

Small Industries Development Bank of India (SIDBI) as the Principal Development Finance Institution for MSME sector has played a significant role in developing the financial services for MSME sector through various interventions including Refinance to Banks, Credit Guarantee programs, Development of the MFI sector, Contribution to Venture capital/AIF funds, MSME ratings, promoting digital lending ecosystem, etc. The Bank has proactively been working toward Energy Efficiency (EE) in MSMEs since 2005-06 as part of Direct Finance business using support of multilateral institutions like   World Bank, ADB, GiZ, FCDO, JICA, AFD, KfW etc. for energy efficient projects. SIDBI has taken steps to promote Energy Efficiency and Cleaner production in the MSME sector and propose to accelerate its efforts for MSME sector for their survival, growth, and competitiveness in long run during prevailing climate related challenges.