SIDBI Signs MoU with Monsha’at

Current Context: The Small Industries Development Bank of India (SIDBI) signed a Memorandum of Understanding (MoU) with the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia (aka Monsha’at).

• The MoU was signed between the Deputy MD of SIDBI, V Satya Venkata Rao, and the CEO of SME Bank, Mazil bin Ahmed Al-Ghunaim.
• The primary objective of this partnership agreement is to develop MSMEs and their ecosystem in both countries.
• Along with the mutual collaboration between the MSME institutions of both nations, the agreement will also pave the way to improve diplomatic relations between them.
• As a part of the agreement, SIDBI will also offer expertise to the newly launched SME Bank in Riyadh, Saudi Arabia.
• SIDBI is the financial institution that works for the development of MSMEs in the country. It was established in 1990 with its headquarters in Lucknow. The current Chairperson & MD of the institution is Sivasubramanian Ramanan.

Question:

Q.1 With which of the following country did the SIDBI sign an MoU to develop MSMEs and their ecosystem in both countries?
a. Iran
b. Qatar
c. UAE
d. Saudi Arabia