SIDBI commits over Rs 100Cr entrepreneurship projects in Nagaland

The Small Industries Development Bank of India (SIDBI) has partnered with the Nagaland state government. As part of the partnership, the firm has committed over Rs 100 crore for the development of entrepreneurship projects in the northeastern state.

SIDBI, as the apex regulatory body for micro, small, and medium enterprise (MSME) finance companies in India, operates under the Ministry of Finance, indicating the importance of this initiative at both the state and national levels.

Boosting entrepreneurship and infrastructure

SIDBI has outlined a plan to fund four major projects aimed at invigorating the state's economy through entrepreneurship. These projects include the establishment of industrial infrastructure for MSMEs under a cluster development fund and the creation of Swavalamban Connect Kendras (SCK) across all 16 districts of Nagaland.

These centres are designed to foster the spirit of entrepreneurship among the local populace, as per the company's statement.

SIDBI announces sports scholarships

SIDBI has also announced sports scholarships worth Rs 5 lakh each for five promising sportspersons from Nagaland with the aim of supporting the holistic development of the youth.

Furthermore, The firm plans to provide seed funds to assist entrepreneurs on their startup journey, ensuring that the seeds of innovation and enterprise find fertile ground in Nagaland.

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