Vijayawada, May 22 -- Andhra Pradesh Minister for Micro,Small and Medium Enterprises Kondapalli Srinivas has welcomed the Uniongovernment's decision to roll out the Emergency Credit Line Guarantee Scheme(ECLGS) 5.0, saying the move will bolster domestic industry amid the latestpolitical and economic turmoil in West Asia.
In a release here on Friday, the Minister noted that underECLGS 5.0, the Central Government would provide a guarantee on additionalcredit facilities extended by recognised banks.
"The scheme offers creditguarantee coverage of up to 100 percent for MSMEs and up to 90 percent fornon-MSME sectors. Borrowers can access additional working capital up to 20percent of the maximum working capital utilised during the fourth quarter...