SIDBI(Small Industries Development Bank of India) entered into a partnership with YES Bank to guarantee 75% of loans of up to Rs 15 crore extended to energy efficiency projects under the WORLD BANK initiative.
To transform the energy efficiency (EE) market in India by promoting increased level of EE investments, particularly through energy service performance contracting (ESPC) delivered through Energy Service Companies (ESCOs).
- SIDBI expects to provide credit guarantee to more than 500 projects and mobilize financing of up to $127 million through the tie-up.
- A memorandum of understanding was signed between Sidbi and Yes Bank under the Partial Risk Sharing Facility (PRSF) for financing energy efficiency projects programme sponsored by the World Bank.
- The (SIDBI) is the project execution agency whereas Yes Bank claims to be the first Indian lender to be em-panelled for the programme.
- SIDBI will extend the guarantee for securing up to 75 per cent of the loan amount of up to Rs 15 crore extended by the bank to MSMEs under this programme.
SIDBI is an independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises. SIDBI, set up on April 2, 1990 under Small Industries Development Bank of India Act, 1989.
SIDBI was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India.
Currently it is a wholly owned subsidiary of 34 Government of India owned / controlled institutions.
Entities founded by SIDBI:
♦ Credit Guarantee Fund Trust for Micro and Small Enterprises – To provide guarantees to banks for collateral-free loans extended to SME.
♦ SIDBI Venture Capital Ltd – A venture capital company focussed at SME.
♦ SME Rating Agency of India Ltd(SMERA) – To provide composite ratings to SME.
♦ ISARC – India SME Asset Reconstruction Company for NPA resolution for SME.
♦ CEO: Dr. Kshatrapati Shivaji
President : Jim Yong Kim
Headquarters: Washington, D.C., United States
World Bank Group:
World Bank Group has five international organizations:
♦ International Bank for Reconstruction and Development (IBRD)
♦ International Development Association (IDA)
♦ International Finance Corporation (IFC)
♦ Multilateral Investment Guarantee Agency (MIGA)
♦ International Centre for Settlement of Investment Disputes (ICSID)