Small Industries Development Bank of India (SIDBI), the country’s principal financial institution for Micro, Small and Medium Enterprises (MSME), has sanctioned a support of Rs 837 crore under its SIDBI Cluster Development Fund Scheme (SCDF) to the Government of Odisha for the development of 18 MSME infrastructure projects to be implemented by Odisha Industrial Infrastructure Development Corporation (IDCO).
The projects include development of 5 new MSME parks, construction of 11 workers hostels and 2 projects for supporting infrastructure to MSMEs.
Under its SCDF Scheme, SIDBI extends moderately priced loan assistances to State Governments for upgrading various existing MSME Clusters as also for creation of new industrial infrastructure in the State.
Sivasubramanian Ramann, IA&AS, CMD SIDBI said, “The thrust shall be laid on clusters in sectors/subsectors which can directly benefit the MSMEs in the State and to bring them to a level ‘NEXT’ wherein they emerge vibrant by moving higher on the value chain and become sustainable. SIDBI willl complement its offerings with customized direct lending products being channelized in the supported clusters. It will also examine supporting the soft infrastructure issues in select clusters relating to technology, skilling/upskilling, energy efficiency, market and credit connect, on need basis".
SIDBI has l aunched a Pilot programme in Bargarh Handloom Cluster via its grant support and it shall also work out a pain to gain transition programme in important artisanal clusters identified in consultation with nodal State Department.
He further stated that the ongoing EU Switch Asia Bamboo project run by SIDBI in 5 districts of the State viz. [Balangir, Bargarh,Sambalpur, Sonepur, Anugul] which aims to generate an alternative source of livelihood as well as to promote an alternative for timber thereby safeguarding the environment and under which 342 Artisans and Bankers have been trained and 229 units grounded till date, shall be made more stronger in close co-ordination with the State authorities.
A MOU for setting up of a Project Management Unit with the State Government was also signed in the presence of CMD, SIDBI and top Govt Officials of Odisha for strengthening the MSME ecosystem of the State.
