Small Industries Development Bank of India (SIDBI) has teamed up with Andhra Pragati Gramina Bank (APGB), a regional rural bank, to offer refinancing facilities to the latter so that it can provide credit to MSMEs across the state of Andhra Pradesh. Since its inception, SIDBI has played a crucial role as a facilitator to bolster India’s MSME ecosystem by extending refinance to a cross-section of banks and financial institutions across the country, ensuring credit availability to MSMEs. Meanwhile, SIDBI also offers direct funding to SMEs by way of long-term loans and working capital finance.
