The Hindu Business Line : ADB team visits APSFC

A STUDY team from the Asian Development Bank (ADB) has visited the Andhra Pradesh State Financial Corporation (APSFC) and held detailed discussions on measures required to strengthen State financial corporations (SFCs) and help them play a bigger role in the development of SMEs.

The three-member expert team of ADB met Mr M. Gopalakrishna, Chairman, APSFC, Mr S. Nageswara Rao, General Manager, SIDBI, Hyderabad and senior officers on May 10.

The topics discussed were capacity building, reduction of cost of borrowings, assessment of business environment and emerging opportunities and measures to make SFC more competitive, according to an APSFC release.

With a view to revitalise the SFCs, SIDBI had requested the ADB to depute a team.

The ADB is likely to provide the requisite assistance in the areas of capacity building for entrepreneurship development and a sharper focus on important and emerging sectors including scope for exports. It is also likely to earmark substantial funds for assisting the SME sector and strengthen the SFCs to provide financial and entrepreneurship development assistance and faster credit delivery.

More Stories on : Financial Institutions | Andhra Pradesh

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