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SIDBI releases Rs 837 cr to support MSME cluster projects in Odisha

The Small Industries Development Bank of India (SIDBI) has sanctioned Rs 837 crore for the development of MSME cluster in Odisha. 

The bank has partnered with the Odisha government and will be supporting the project under its SIDBI Cluster Development Fund Scheme (SCDF).

Odisha Industrial Infrastructure Development Corporation (IDCO)will implement the development of 18 MSME infrastructure projects. 

Development of five new MSME parks, construction of 11 workers hostels and two projects for supporting infrastructure to MSMEs will be included in the projects. 

Under its SCDF scheme, the SIDBI has extended moderately priced loan assistance to state governments for upgrading various existing MSME clusters, as also for creation of new industrial infrastructure in the state. 

“The thrust shall be laid on clusters in sectors/sub-sectors, which can directly benefit the MSMEs in the state and to bring them to a level ‘next,’ wherein they emerge vibrant by moving higher on the value chain and becoming sustainable,” said Sivasubramanian Ramann, IA&AS, CMD SIDBI.

Soft infrastructure issues in select clusters relating to technology, skilling/upskilling, energy efficiency, market and credit connect, on need basis will be examined and supported by SIDBI.