New Delhi, September 12, 2023, Yesterday, it was announced that the Small and Medium Enterprises Bank (SMEB) of Saudi Arabia and the Small Industries Development Bank of India (SIDBI) had inked a bilateral collaboration agreement. On the sidelines of the ongoing Saudi-Indian Investment Forum, the signing ceremony was attended by SIDBI Deputy Managing Director Sudatta Mandal and interim SMEB CEO Abdulrahman bin Mohammed bin Mansour. The arrangement accomplishes one of SMEB's objectives by luring great models and successful Indian experiences to help small and medium-sized businesses find the right funding, attain stability, and develop.
The agreement aims to, among other things, design and formulate engineering strategy data in accordance with best practices, transfer knowledge in the area of credit practices addressing small and medium-sized businesses and financial institutions, and improve awareness and training roles between the two parties by organizing a training program for employees to make it easier for them to understand the best practices both parties have adopted regarding the field.
