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The small Industries Development Bank of India has inked with SAARC Development Bank (SDF)

•    The Small Industries Development Bank of India (SIDBI) has inked MoU with SAARC Development Fund (SDF) 
•    This has been done to promotte for mutual cooperation and collaboration. 
•    The MoU was signed by Deputy Managing Director of SIDBI A K Kapur and SDF CEO Sunil Motiwal. 
•    MoU initiates SDF and SIDBI to work together in co-funding of projects in Indian MSMEs on risk sharing basis in identified sectors. 
•    Development of suitable financial products for SME financing for MSMEs of other Saarc states, the Finance Ministry said in a statement.
•    Technology transfer and making available software to MFIs regarding loan tracking systems in other SAARC states. 
•    Capacity development of SDF, SIDBI and SME funding institutions in SAARC countries. 
•    SIDBI is an independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises (MSMEs).
•    In 1996, a first funding mechanism was created in SAARC, ‘South Asian Development Fund (SADF), merging the SAARC Fund for Regional Projects (SFRP) and the SAARC Regional Fund. 
•    SADF objectives were to support industrial development, poverty alleviation, protection of environment, institutional/human resource development and promotion of social and infrastructure development projects in the SAARC region. 

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