MUMBAI: HSBC has signed a letter of intent with UK Export Finance (UKEF) for a programme that will make available 100 million pounds to Indian MSMEs and corporates for financing their imports from the UK.HSBC India and UKEF will collaborate to originate, structure, and extend financing and credit facilities to Indian MSMEs.

UKEF offers guarantee-backed structures that will be utilised in this partnership."MSMEs have emerged as a mainstay of innovation and growth in India and are the driving force behind the nation's growth aspirations.Given our large franchise in India and our global strengths, we are ideally placed to support the ambitions of these small businesses through our partnership with UKEF," saidHitendra Dave, CEO, HSBC India."With more than 600 UK companies finding success in India, the opportunities for UK exporters in India are huge," said Harjinder Kang, HM trade commissioner for South Asia and deputy British high commissioner, Western India.