Fund News

Union Govt launches new fund for UP-based MSMEs

Economic Times  

The Union Finance Minister Nirmala Sitaraman has announced the launch of a new AIF for MSMEs in Uttar Pradesh. The Uttar Pradesh ‘One District One Product' (ODOP) programme will aid in effective identification of “champion sectors” amongst MSMEs under the ‘Ubharte Sitaare Fund'. The fund is co-sponsored by Exim Bank and Sidbi and was formed as per a 2020 union budget announcement. With a corpus of INR 250 crore with a green shoe option of INR 250 crore, the fund will look at investing in certain identified MSMEs by way of equity and equity-like products to boost presence of such enterprises in the export market.

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