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SIDBI and Bahrain Development Bank seal deal to help SME

Bahrain's FM Ahmed bin Mohamed and SIDBI deputy MD N.K. Maini signed a MoU

IANS  |  New Delhi 

SIDBI and Bahrain Development Bank seal deal to help SME

The government-run Small Industries Development Bank of India (SIDBI) Wednesday signed an agreement with Bahrain Development Bank (BDB) to assist small businesses in establishing operations.

Bahrain's Minister Ahmed bin Mohamed on behalf of Bahrain Development Bank and deputy managing director N.K. Maini signed a Memorandum of Understanding (MoU) here in the presence of Bahrain's King

Accompanied by 150 member high-level business delegation, the Bahraini king is on a three-day official visit to India.

As per the agreement, would provide technical assistance and facilitate activities of Group in the areas of risk management and credit appraisal. It will also provide training to Group officials in credit risk appraisal and related areas, in framing a suitable monitoring policy and NPA management system and in exploring tie up of Indian micro, small and medium enterprises with SMEs in Bahrain for mutual benefit.

Speaking on the sidelines of the signing ceremony, Maini said the would enable Indian micro, small and medium enterprises to expand their business to Bahrain.

is responsible for development, promotion and financing of micro, small and medium enterprises in India, while is Bahrain's leading Development Financial Institution.

First Published: Wed, February 19 2014. 23:41 IST
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