To help the Micro, Small and Medium Enterprises (MSMEs) with required financial support, Small Industries Development Bank of India (SIDBI) has launched two schemes. One is SHWAS (SIDBI assistance to healthcare sector) and the other is AROG (SIDBI Assistance to MSMEs for recovery & organic growth during COVID-19 pandemic). The schemes have been launched to counter the adverse impact of the second wave of COVID-19.

The schemes are devised under the guidance of the Union Government which facilitates funding for production and Services related to supply of Oxygen cylinders, oxygen concentrators, oximeters and essential drugs.

In the second wave, the massive resurgence of COVID-19 in the country has led to unprecedented burden on Health of the country. The Centre has taken numerous steps to step up supply of oxygen and essential drugs to hospitals. To ensure that, SIDBI has taken the initiatives for helping MSMEs quickly augment their facilities and augmenting capabilities to fight the pandemic.

SIDBI has devised these schemes to help the healthcare service providers in the fight against the pandemic. These schemes envisage 100% funding up to an amount of Rs 2 crore to a MSME unit at an attractive interest rate of 4.50%-6% pa within 48 hours after receipt of all the documents information. Details of the schemes are available on the SIDBI website.