Sarabjit Kaur
Export-Import Bank of India (Exim Bank) has inked pact with the United Nations Development Programme (UNDP) on Friday to finance a project on Capacity Building of micro, small and medium enterprises (MSMEs) in North-East India for Export Competitiveness.
The project aims to create stronger MSMEs in the North-East region to strengthen the exports, generate employment and provide livelihood opportunities to the youth and women.
“The key strategy would be to take advantage of the emerging opportunities under the Government of India’s Act East Policy that recognises the potential of the region in terms of natural resources, hydropower, close proximity to East-Asian countries, among others,” the statement said.
The agreement was signed by David Rasquinha, managing director, Exim Bank and Marina Walter, country director, UNDP.
The key activities of the project include cluster-based support to grassroots MSMEs in North-East India in improving their export competitiveness through Exim Bank’s Grass Roots Initiative and Development (GRID) initiative, according to Business Line.
Through GRID, Exim Bank extends financial support to promote grassroots initiatives/ technologies, particularly the ones with export potential and help the artisans/producer groups/clusters/small enterprises/NGOs realise remunerative return on their produce and facilitate exports from these units.
