Export-Import Bank of India (Exim Bank) on Friday said it has signed an agreement with the United Nations Development Programme (UNDP) for financing a project on ‘Capacity Building of MSMEs in North East India for Export Competitiveness’.
The agreement was signed by David Rasquinha, Managing Director, Exim Bank, and Marina Walter, Country Director, UNDP. The project, according to an Exim Bank statement, looks at creating stronger MSMEs (micro, small and medium enterprises) in the North-East region to boost exports, generate employment and provide livelihood opportunities to the youth and women. “The key strategy would be to take advantage of the emerging opportunities under the Government of India’s ‘Act East Policy’ that recognises the potential of the region in terms of natural resources, hydropower, close proximity to East-Asian countries, among others,” the statement said.
The key activities of the project include cluster-based support to grassroots MSMEs in North-East India in improving their export competitiveness through Exim Bank’s GRID (Grass Roots Initiative and Development) Initiative. Through GRID, Exim Bank extends financial support to promote grassroots initiatives/ technologies, particularly the ones with export potential and help the artisans/ producer groups/ clusters/ small enterprises/ NGOs realise remunerative return on their produce and facilitate exports from these units.
via Exim Bank, UNDP ink pact to extend financial support to MSMEs in N-E – Business Line