New Delhi, Feb 24 (KNN) In a recent engagement, Export and Import Bank of India (Exim Bank) signed  an agreement with United Nations Development Program (UNDP) for financing a project on ‘Capacity Building of MSMEs in North East India for Export Competitiveness’.

David Rasquinha, Managing Director, Exim Bank, and Marina Walter, Country Director, UNDP signed the agreement.

According to Exim Bank, the project aims at building strong Micro Small and Medium Enterprises (MSME) in the North-East region in order to generate employment, boost exports 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  recognizes the potential of the region in terms of natural resources, hydropower, close proximity to East-Asian countries, among others,” the statement said.

Cluster-based support to grassroots MSMEs in North-East India in improving their export competitiveness through Exim Bank’s GRID (Grass Roots Initiative and Development) Initiative will be given priority in the project activity.

Through GRID initiative Exim Bank lend financial assistance to promote grassroots initiatives/ technologies, particularly to those who have potential in exports and further help the artisans/ producer groups/ clusters/ small enterprises/ NGOs realize remunerative return on their produce and facilitate exports from these units.