Washington D.C., September 21st, 2021 - SIDBI joins the SME Finance Forum as the newest member of our global membership network. Our members are SME financing experts from 80+ countries who share the common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.
“When we started in 2012, we were in an exploratory phase for the first few years. Since 2016, we have been implementing our mission to build a global membership to support better SME financing, and since then, we have established a network with over 230 active member institutions, which operate in over 190 countries sharing the common purpose of helping under-served enterprises. We are delighted to welcome SIDBI to further grow our mission.” said Matthew Gamser, CEO of the SME Finance Forum.
Small Industries Development Bank of India (SIDBI) was set up in April 1990, as the principal financial institution for promotion, financing and development of the Micro, Small and Medium Enterprise (MSME) sector, as well as for co-ordination of functions of institutions engaged in similar activities. The mission of SIDBI is to facilitate and strengthen credit flow to MSMEs and address both financial and developmental gaps in the MSME eco-system.
“As a premier DFI of India, we bring on board various innovative, inclusive and impact-oriented models, tools and programs for the MSME ecosystem. SIDBI has gained rich experience in evolving digital and virtual ecosystem for the MSMEs in India and as our priority themes, we have identified cluster financing, green financing and transmitting microfinance to microenterprises. We are looking forward to joining the SME Finance Forum to participate in learning events, exchange visits, and peer networking events”, said Shri Sivasubramanian Ramann, the Chairman and Managing Director of SIDBI.
About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative. The Forum operates a global membership network of +230 members that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list
Small Industries Development Bank of India (SIDBI), set up in April 1990, acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities. The mission of SIDBI is to facilitate and strengthen credit flow to MSMEs and address both financial and developmental gaps in the MSME eco-system. For more information, please visit: https://www.sidbi.in/en