Chandigarh, Aug 8 (KNN) Haryana government and Small Industries Development Bank of India (SIDBI) has entered a Memorandum of Understanding (MoU) with an objective of development of the Micro, Small and Medium Enterprises (MSME) ecosystem in the state.

The MoU was executed by Vikas Gupta, IAS, Director General, MSME, Directorate of MSME, Haryana government and General Manager, SIDBI, Chandigarh on Friday.

In line with the expectation of the UK Sinha Committee, SIDBI has laid emphasis on more focused engagement with state governments. SIDBI has spearheaded a few initiatives towards strengthening the enterprise ecosystem.

''Setting up a project management unit in Eleven states is a key step in this direction. The first such MoU was signed between the Government of Haryana and SIDBI on August 7, 2020. Under the arrangement, SIDBI shall set up a dedicated Project Management Unit (PMU) which will work in coordination with the Haryana government and facilitate schemes, initiatives, interventions for benefit of MSMEs in the state,'' SIDBI said in a statement.

''The focus areas shall include designing schemes for equity support, interest subvention, resolution of stressed MSMEs and learning events for MSME entrepreneurs,'' it added.