World Bank, Indian govt sign $750 mn agreement to support MSMEs

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The World Bank and Indian government have signed an agreement worth $750 million to boost the flow of finance to 15 lakh MSMEs amid the COVID-19 crisis. The decision will help the government to provide targeted guarantees to incentivise NBFCs and banks. Notably, the World Bank has so far committed $2.75 billion to support India’s emergency COVID-19 response.