The UK has launched a private sector development programme in India with a loan of GBP 65 million (USD 100 million) which will be implemented between 2012 and 2019 together with the Small Industries Development Bank of India (SIDBI). The effort will extend funding to companies that serve poor people in the states of Bihar, Madhya Pradesh, Orissa and Uttar Pradesh, with the goal of benefiting 12 million people. The new program is loosely based on SIDBI’s National Micro Finance Support Programme which has reached 6.6 million clients since 2002.
Among other activities, SIDBI provides credit and capacity building grants to large- and medium-scale microfinance institutions (MFIs). As of September 30, 2010, SIDBI reported total assets of INR 480 billion (USD 9.75 billion).
About the Small Industries Development Bank of India (SIDBI)
The Small Industries Development Bank of India (SIDBI) was established by the Indian Parliament in 1990. SIDBI offers products and services in areas including direct finance, international finance, government subsidy and fixed deposits. Its clients include institutions, investors and entrepreneurs. SIDBI is an active participant in the Indian microfinance sector, where it provides credit and capacity building grants to large- and medium-scale microfinance institutions (MFIs). As of September 30, 2010, SIDBI reported total assets of INR 480 billion (USD 9.75 billion).
By Ariana Malushi, Research Associate
Sources and Additional Resources
Syminvest: “UK launches pro-poor private investment programme in India with SIDBI”
http://articles.economictimes.indiatimes.com/2011-12-16/news/30524999_1_sidbi-chairman-samridhi-small-industries-development-bank
International Fund for Agriculture Development (IFAD): “Background”
http://www.ifad.org/gbdocs/eb/87/e/EB-2006-87-INF-7.pdf
MicroCapital.org Story, October 14, 2011, “MICROCAPITAL BRIEF: Indian Microfinance Institution Bhartiya Samruddhi Finance Limited (BSFL) Looks to Convert $40m in Loans to Preference Shares”
https://www.microcapital.org/microcapital-brief-indian-microfinance-institution-bhartiya-samruddhi-finance-limited-bsfl-looks-to-convert-40m-in-loans-to-preference-shares/
MicroCapital.org Story, September 16, 2011, “MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Ujjivan Looking to Raise $138m from Private, Public Sector Banks”
https://www.microcapital.org/microcapital-brief-indian-microfinance-institution-mfi-ujjivan-looking-to-raise-138m-from-private-public-sector-banks/
MicroUniverse Profile: SIDBI
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Small+Industries+Development+Bank+of+India+%28SIDBI%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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