ITC, Exim develop software for SMEs

Mumbai, May 29 | Updated: May 30 2007, 05:30am hrs
Geneva-based International Trade Centre (ITC) in joint venture with Exim Bank has developed a software, Loan.com, which will help the SMEs of the country and other developing countries to be competent to enter the global market.

A fund of 2,00,000 euros has been kept aside by the European Commission (EC) which will be used in financing those SMEs in the developed countries that are able to answer a series of questions as asked by the software.

Talking to FE, the CMD of ITC, Aichatou Agne Pouye, to formally announce the completion of the 12-month pilot project Building competitiveness for SME financing, which was successfully completed by the Exim Bank in the country, said, We are not here just to fund the project, but also to see how to make it sustainable.

Even though there are 150 developing countries in the world as defined by the United Nations, the project is meant for the developing countries where the SMEs are finding it difficult to access financial resources and hence are unable to get global exposure. In fact this is a generic tool for us which can easily be replicated through India and other developing nations, she added.