UP govt to tap World Bank arm IFC for easy capital flow to MSME sector

IFC country head likely to visit Lucknow soon to hold further talks

Uttar Pradesh government has initiated preliminary talks with the International Finance Corporation (IFC) seeking easy flow of capital to the Micro, Small and Medium Enterprises (MSME) sector in the state.

Apart from facilitating easy availability of credit to MSMEs, the state government is also looking at reviving sick units for spurring economic activities and job creation.

UP MSME minister Sidharth Nath Singh said a meeting with senior IFC officials had already taken place and its country head was likely to visit Lucknow soon for taking the issue forward.

The state has nearly 9 million MSMEs, comprising almost 14% of the