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CII ties up with UNIDO to promote credit scheme

Special Correspondent

CHENNAI: The Confederation of Indian Industry-Southern Region and the United Nations Industrial Development Organisation (UNIDO) entered into a Memorandum of Understanding on Wednesday to promote a Mutual Credit Guarantee Scheme to help small enterprises in auto components, leather and footwear industries secure bank loans without collateral security.

UNIDO has also opened an Investment and Technology Promotion Office here to promote foreign direct investment, transfer of technology and SME development through various activities such as creation of a sub-contracting exchange for small and medium enterprises and match buyers with sellers.

The office will focus on providing subcontracting, outsourcing platforms and vendor-buyer meets; investment, match-making, joint ventures and business partnerships; financing, equity, venture capital and mutual credit guarantee schemes; and technology transfer financial schemes.

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