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Small Industries Development Bank of India (SIDBI) has signed a memorandum of understanding with Bahrain Development Bank here on Wednesday.
The MoU, which will be valid for three years, will help Indian micro, small and medium enterprises expand their business to Bahrain. It was signed by Ahmed bin Mohamed, Minister of Finance, Bahrain and NK Maini, Deputy Managing Director, SIDBI, during the ongoing State visit to India of Bahrain King Hamad Bin Isa Al-Khalifa.
Under the MoU, SIDBI would provide technical assistance/facilitate activities of BDB Group in the areas of risk management and credit appraisal and also impart training to BDB Group officials in SME credit risk appraisal.
SIDBI would also help BDB frame a suitable monitoring policy and non-performing asset management system.
Tie-ups of Indian MSMEs with those in Bahrain will also be explored for mutual benefit, Maini told Business Line .
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