Monday, October 3, 2022

IDAN signs MoU with SIDBI


Investment Development Authority of Nagaland (IDAN) and Small Industrial Development bank of India (SIDBI) signed a Memorandum of Understanding (MoU)at Capital Cultural Hall Kohima Tuesday.
In his brief address chief executive officer (CEO) IDAN Alemtemshi Jamir said the United Nations Conference on Trade and Development (UNCTAD) High Impact Entrepreneurs from Emerging Regions for Action (HiEERA) programme was its flagship capacity-building programme and promoted in India by Empretec India Foundation (EIF), which caters to the needs of high-impact (both, high- potential and high-performance) entrepreneurs through culture (behavior) and linkage-based interventions.
Established in 1988 and spread across 50 countries, he said Empretec has trained over 500,000 entrepreneurs and intrapreneurs (Government officers, bankers, administrators, educators, etc.) to promote a culture and consciousness of entrepreneurship.
Jamir informed that IDAN has been piloting the Empretec programme since 2018, which was also the year India signed a resolution on Sustainable Development through Entrepreneurship at the United Nations General Assembly (UNGA).
He said SIDBI’s mission has been to facilitate and strengthen credit flow to local enterprises along with support for capacity building framework and address both financial and developmental gaps in the ecosystem to make it strong, vibrant and globally competitive.
The CEO appreciated SIDBI for partnering with IDAN in this important journey by graciously agreeing to support the installation and development of the Empretec programme in Nagaland and making a generous contribution of Rs. 1.18 Crore for the first phase of the HiEERA Development Cycle in Nagaland in 2022.
Through this Development Cycle sponsored by SIDBI Jamir said the State expects to prospect 150 entrepreneurs that will eventually give birth to 10 HiEERA enterprises, creating 250 direct employment and 2500 indirect employment.
It will also create 100 additional enterprises around the HiEERAs which will absorb Rs. 250 cr of additional direct investment and grants and an additional indirect investment and grants of Rs. 500 cr, he added.
The MoU was exchanged in the presence of the union minister for finance Nirmala Sitharaman, chief minister Neiphiu Rio and host of other dignitaries.