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WB approved $500mn Program to Enhance MSME Sector of India

Published on June 08, 2021
Current Context: The World Bank (WB) approved the $500 million program to uplift the MSME sector of India.
WB approved $500mn Program to Enhance MSME Sector of India
  • The $500 million programs will help GOI to raise liquidity access support to the MSMEs, small businesses which are impacted severely by COVID-19.
  • The funds will be utilised to revitalize the MSME sector as it has set the target to improve the performance of 555,000 MSMEs.
  • The program is expected to mobilize financing of $15.5 billion, as part of the government’s $3.4 billion MSME Competitiveness, ‘A Post-COVID Resilience and Recovery Programme (MCRRP)’.
  • The $500 million support is the part of the Raising and Accelerating Micro, Small and Medium Enterprise (MSME) Performance (RAMP) Program, which is the second support from World Bank for India’s MSME sector upliftment
  • Static Part: 
    • HQ of World Bank: Washington, D.C., United States
    • President of World Bank: David Malpass

Question: 

Q.1 World Bank approved the ___ program to uplift the MSME sector of India?
a. USD 550 million
b. USD 450 million
c. USD 400 million
d. USD 500 million
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