Published on December 25, 2021
New Delhi: Small Industries Development Bank of India (SIDBI), the country’s principal financial institution engaged in the promotion, financing and development of Micro, Small and Medium Enterprises (MSME), has entered into a Memorandum of Understanding (MoU) with the Government of West Bengal (GoWB) to develop the MSME ecosystem in the State. The MoU was exchanged by Shri Sudatta Mandal, Deputy Managing Director, SIDBI and Shri Rajesh Pandey, Principal Secretary, MSME & Textile, Government of West Bengal in the presence of Dr. Hari Krishna Dwivedi, Chief Secretary, Government of West Bengal.
Under the MoU, a Project Management Unit (PMU) will be deployed by SIDBI with GoWB. The PMU will support the GoWB in making necessary interventions for focused engagement of SIDBI with the State of West Bengal with the objective of facilitating development of the MSME ecosystem.
On this occasion, Shri Sudatta Mandal, Deputy Managing Director, SIDBI said, “We are working towards strengthening the MSME eco system in the States. SIDBI would be placing an expert agency with the State MSME Department.”
Dr. Hari Krishna Dwivedi, Chief Secretary, Government of West Bengal stated that this MoU would be beneficial to the MSMEs in the State of West Bengal and is looking forward to work with SIDBI for MSME clusters and infrastructure development in the State.
Shri Rajesh Pandey, Principal Secretary to the Government of West Bengal said that “This MoU would help in supporting the efforts of the State for development of the MSME Ecosystem.”
Shri Manoj Pant, Principal Secretary, Finance, Shri Meghnad De, Special Secretary, MSME & Textile Department, Shri U Swaroop, Director, MSME, Shri Nikhil Nirmal, MD, WBSIDCL, were also present during the MoU signing.
The key functions of the PMU shall include the following: