The Project Loan of $50 million, with a guarantee from the Government of India, aims to help Small Industries Development Bank of India (SIDBI) in reaching out to the "missing middle" - i.e. small borrowers or micro-enterprises who have grown too large for traditional microfinance support, but remain unable to access more conventional bank financing. At least 30% of the Project loan will be used by SIDBI for direct financing of deserving micro-enterprises. For its direct lending operations, SIDBI will ensure that at least 30% of the subborrowers are qualified women MSME entrepreneurs. Upto 70% of the Project Loan will be used by SIDBI for indirect financing of microenterprises through eligible participating financial institutions (PFIs) which could either be scheduled banks, non-bank financial companies, or microfinance institutions.
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