50% CAPITAL SUPPORT TO MSMEs

Export Import Bank of India (Exim Bank) has opened a special funding window for Micro, Small and Medium Enterprises (MSMEs) planning to export their products. The development bank has also mobilized the Grassroots Business Fund, a US-based not-for-profit organization, to offer seed capital to MSMEs for building export units. The special funding window has been created recently to support export marketing initiative taken up by MSMEs. Exim Bank will reimburse 50% of the project cost. The corpus of the new facility has not been specified yet. The bank will offer export marketing finance to MSMEs as a grant. The facility would boost the sector, which has been the Government's focus for quite some time.