New Delhi, Sep 17 (KNN) To provide financial support to Micro, Small and Medium Enterprise (MSMEs), the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has approved signing of Memorandum of Understanding (MoU) with Small Industries Development Bank of India (SIDBI) for funding.

In the 359th board meeting held here under the chairmanship of the board and Principal Secretary Rajesh Khullar, a decision in this regard was taken.

Putting more emphasis on the MoU, Khullar said that the initiative would help MSMEs financially for the payment of the plot and would facilitate upfront revenue generation for HSIIDC.

Under this scheme, SIDBI has agreed to finance 75 per cent of the total plot cost subject to a maximum of Rs 6 crore.

The SIDBI would make the payment directly to HSIIDC, who would have to share the details of the allottees so that they can be contacted by SIDBI for financing the plots cost.

In the majority of cases the corporation would receive 100 per cent of the plot cost within few months of allotment, thereby, easing its liquidity position, under this MoU.

Both SIDBI and HSIIDC have been close partners in the industrial development in the state for more than two decades, where SIDBI had been extending financial assistance to HSIIDC for setting up of various Industrial Estates.

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