The Business Bytes
TBB BUREAU
ALMATY (KAZAKHSTAN), JUNE 1, 2023
Small Industries Development Bank of India (SIDBI), the country’s principal financial institution for MSMEs, received two awards at the 46th ADFIAP Annual Meetings at Almaty in Kazakhstan.
The annual ADFIAP Awards celebrate member institutions that have made remarkable contributions to development in various areas. These prestigious awards acknowledge projects that have positively impacted the environment, small and medium enterprises, infrastructure, technology, trade, local economy, corporate governance, and corporate social responsibility.
Under the Outstanding Development Projects Awards of the Association, SIDBI was awarded in two categories – Infrastructure Development Award for SIDBI’s Cluster Development Program; and Trade Development Award for Women Entrepreneurship-Livelihood Enhancement and Development (WE-LEAD).
SIDBI launched the Cluster Development Fund (SCDF) to provide low-cost funds to State governments to create and upgrade hard MSME infrastructure. The purpose of said fund is holistic in nature covering nearly all segments of MSME cluster development.
SIDBI DMD Sudatta Mandal along with CGM Sanjay Jain received the awards.
