Bhopal, Nov 24 (KNN) To establish Project Management Units (PMU) for MSMEs in Madhya Pradesh, Small Industries Development Bank of India (SIDBI) on Wednesday partnered with the state government. 

Announcing on Twitter, the chief financial institution for the promotion, financing and development of MSMEs said the PMUs would work in close coordination with the state government and local banks to identify projects beneficial for MSMEs and would assist with financing, policy, scheme-level formulations and recommendations. 

Earlier, SIDBI had signed similar partnerships with several states such as Assam, Rajasthan, Haryana, Maharashtra, Delhi, Uttar Pradesh, Uttarakhand, and more. 

According to SIDBI, PMUs design programmes related to equity support, resolution for stressed units, interest subvention and suggest changes to existing schemes and projects in the respective state, if required, to remove barriers to MSMEs’ growth. 

With respect to states’ enterprise/industrial policies and good practices adopted to promote MSMEs through PMUs set up by the bank, SIDBI released profiles of 16 states in September. 

These profiles of (Andhra Pradesh, Assam, Delhi, Gujarat, Haryana, Karnataka, Maharashtra, Rajasthan, Tamil Nadu, Uttarakhand, Uttar Pradesh, Telangana, Jammu and Kashmir, West Bengal, Odisha and Bihar). 

SIDBI provided this information to state governments to spread the best practices followed for the benefit of MSMEs. (KNN Bureau)