Guwahati: Small Industries Development Bank of India (SIDBI) has signed an MoU with Meghalaya Infrastructure Development and Finance Corporation Ltd to develop the MSME ecosystem in the State, stated a press release.

The MoU was exchanged by Dr. Vijay Kumar D, IAS, Commissioner & Secretary, Finance Department, Government of Meghalaya and CEO, MIDFC, and VSV Rao, Dy MD, SIDBI.

The MoU's broad objectives include Entrepreneurship development in the State: Development of MSME clusters; Capacity building of NGOs/development organisations/MSMES; Support and showcase replicable livelihood projects aligned to the priority identified by State; Expanding the digital offerings for MS MEs in the State; Mapping State-specific livelihood opportunities through expert consultants; Extension of promotion and developmental initiatives of SIDBI in the State; Building capacity of MSMEs using online platforms; Initiating business information and counseling. centres for micro-enterprises; Capacity building of the State agencies working for the development of the MSMEs in the State, etc. Rao, speaking on the occasion, indicated that SIDBI is supporting setting up of a 'Swavalamban Alternate Livelihood Unit for the East' at Ramakrishna Mission Ashram, Sohra in Meghalaya, to run vocational courses on weaving, tailoring, fashion designing, knitting, embroidery, product development, etc., to provide alternate livelihood opportunities to the dropout students, women, and tribals from the northeastern States.

The priority target segments shall be school dropouts, skilled but unemployed, unemployed needing skills, migrants during Covid, unserved/under-served segments, etc.