News > World Bank approves $750-million loan to support Covid-hit MSMEs

World Bank approves $750-million loan to support Covid-hit MSMEs

The Hindu Business Line | 02/07/2020 06:01 AM | Click to read full article

The World Bank’s Board of Executive Directors has approved a $750-million MSME Emergency Response programme to support increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs), severely impacted by the Covid-19 crisis. The $750-million loan has a maturity of 19 years, including a 5-year grace period.

This programme will address the immediate liquidity and credit needs of some 1.5 million MSMEs to help them withstand the impact of the current shock, and protect millions of jobs.