Raipur, June 7 (KNN) Under an agreement with Chhattisgarh government Small Industries Development Bank (SIDBI) will be deploying a Project Management Unit (PMU) to design schemes/programmes in the areas of equity support, interest subvention, resolution of stressed MSMEs in the state.

To strengthen the ecosystem for the overall development of the MSMEs in Chhattisgarh, the state government has signed a Memorandum of Understanding (MoU) with SIDBI.

The pact was signed by the Principal Secretary (Commerce and Industries) Manoj Kumar Pingua and SIDBI General Manager Sanjay Goyal on Monday.

The schemes formulated by PMU will aim at supporting MSME entrepreneurs and facilitate other need-based intervention based on evaluation of the existing status of MSMEs.

Speaking on the occasion, Pingua said “that the state government is undertaking various initiatives and programmes for promoting the MSMEs in the state.”

“The MOU with SIDBI is another such step in this direction to improve the support system for the development of MSMEs in the State,” he added.

Speaking about the role of the SIDBI in the MSME development process, Goyal said “SIDBI intends to cooperate closely with state governments to strengthen the enterprise eco system with thrust on Micro and small enterprises. Imbibing good practices, rejuvenating existing programmes & policies and enable more responsive ecosystem shall be the target of our joining of hands.”  (KNN Bureau)