MSME Emergency Response Program
- On 30th June 2020, The World Bank has approved 750 million US Dollars amount for Micro, Small, and Medium Enterprises(MSMEs) Emergency Response Program. this amount will support severely impacted MSMEs in India due to COVID-19 lockdown. apart from this, The International Bank for Reconstruction and Development(IBRD) will also give a loan.
- World Bank’s MSME Emergency Response program will effect and support to almost 1.5 million applicable MSMEs.
- This program will provide a helping hand to combat with current shock and also will protect millions of jobs.
Maturity Period :
- The loan will have maturity of 19 years and it also includes a 5-year grace period.
About World Bank –
Headquarters – Washington
Membership – 189 countries (IBRD), 173 countries (IDA)
Founded – July 1944
Founders – John Maynard Keynes, Harry Dexter White