SIDBI To Provide 100% Financing To MSME Green Projects

Mumbai, Sept 19 (KNN) Small Industries Development Bank of India (SIDBI) will offer 100 per cent financing to MSMEs' green energy and other clean projects, said a top official on Monday. 

“We want MSMEs to avail of our various financial schemes for installing solar energy and adopting energy-efficient machinery and business processes,” said Jay Kumar Gupta, Deputy General Manager, SIDBI.

He said this during a MSME financing event in Mumbai on Monday. 

“We are ready to extend 100 per cent loan at an interest rate as low as 7-8 per cent (depending on their credit ratings) to install rooftop and ground-mounted solar rooftop power projects,” Gupta added. 

SIDBI lends up to Rs 7.5 crore to eligible MSMEs without charging processing fees by taking 25 per cent margin money as security under our new credit scheme.

It is in partnership with Tata Power to promote energy efficient and green business operations to protect the environment.

The event was organised by World Trade Centre and All India Association of Industries.  (KNN Bureau)