New Delhi, June 9 (KNN) The Overseas Private Investment Corporation (OPIC) have recently signed pact with IndusInd Bank to further accelerate the lending to the Micro, Small and Medium Enterprises (MSMEs) in the India.

Under the new collaboration, OPIC and IndusInd will be extending 225 million dollars as loans to the MSME sector in India.

The Acting President at the Overseas Private Investment Corporation CEO Dev Jagadesan in a press interview said that the Indian MSME sector has a lot of potential and it is essential to extend the required financial support to the sector.

He further said that efforts to equip the MSMEs with credit will prove to be instrumental for economic growth for the country.

The Overseas Private Investment Corporation is a self-sustaining agency under the United States government. The agency specializes in enabling the American Business investments in emerging markets and nations.

Also Wells Fargo Bank recently signed agreement worth 20 million dollars along similar lines. The agreement between the Wells Fargo Bank and IndusInd bank will facilitate loans to the MSME sector in the country. (KNN/ DA)