IBRD agrees $750m Indian MSME financing

The World Bank and the Government of India have signed a $750 million agreement to support the increased flow of finance to micro, small, and medium enterprises hit by the COVID-19 crisis.

The lender's MSME Emergency Response program will address the immediate liquidity and credit needs of some 1.5 million viable MSMEs. The $750 million loan from the International Bank for Reconstruction and Development has a maturity of 19 years, including a five-year grace period.