Exim Bank today stated that it is raising USD 100 million from the Asian Development Bank (ADB) to provide funds to eligible SMEs.

The USD 100 million will be help Exim to focus on cluster development  for small and medium enterprises in states like Assam, Madhya Pradesh, Orissa, Uttar Pradesh, Chhattisgarh, Jharkhand, Rajasthan and Uttarakhand,” a senior exim official stated.

The bank intended to extend loans through the development of clusters in different sectors.

The foreign trade development bank had also raised 150 million euros from the European Investment Bank to promote green energy and projects that reduce greenhouse gas emissions.