CURRENT AFFAIRS

Detailed explanation-1: -RAMP is a program developed within the World Bank Treasury that builds human capital, delivers asset management services, and convenes a network of practitioners-all in one.

Detailed explanation-2: -Point Wise Details: “Raising and Accelerating MSME Performance” (RAMP) is a World Bank assisted Central Sector Scheme, supporting various Corona Virus Disease 2019 (COVID) Resilience and Recovery Interventions of the Ministry of Micro, Small and Medium Enterprises (MoMSME).

Detailed explanation-3: -Option [B] World Bank : The Union Cabinet has approved USD 808 million (₹6,062.45 crore) for a new scheme ‘Raising and Accelerating MSME Performance’ (RAMP). The new scheme assisted by the World Bank is expected to commence in the financial year of 2022-23. It aims to improve access to market and credit of the MSMEs.

Detailed explanation-4: -Government has launched a World Bank supported Central Sector Scheme called Raising and Accelerating MSME Performance (RAMP).

Detailed explanation-5: -The RAMP programme aims to offer financial aid to MSMEs affected by COVID-19. The project has been announced in partnership with the World Bank and is expected to boost the productivity of the MSME sector for the next five years, starting from the financial year 2022 up to the financial year 2026.