Govt in talks with foreign lenders to provide loans to MSME Sector

As per news reports, the government is in talks with foreign lenders to provide as much as $14.5 billion in credit (loans) to millions of its small firms, in a sign the country’s banking system may not be robust enough to do the job on its own.

It is also reported that the government is in discussions with multiple foreign lenders, including Germany’s state-owned development bank KfW Group, the World Bank and some Canadian institutions to extend lines of credit to small enterprises.

Reports also claim that KfW’s India office confirmed the discussions, though the main focus was on credit lines to support small businesses’ solar power generation. “The talks were at an early stage,” KfW said.

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