TN eyes schemes with USD 410mn funding from World Bank
CHENNAI: Chief Minister MK Stalin on Tuesday said the state will be implementing several schemes with additional funding of USD 410 million from World Bank through loans. He said this after inaugurating the Bank's expanded Global Business Centre in Taramani in Chennai which is now its largest office outside Washington.
Stalin said the funds would support a range of important schemes, including WE-SAFE, a new initiative focused on women's employment and safety, the Tamil Nadu Sustainably Harnessing Ocean Resources and Blue Economy (TN-SHORE) project and the second phase of the Tamil Nadu Pudhu Vazhvu project, aimed at rural development and poverty reduction.
He said seven major programmes with World Bank's funding of a total of USD 1.12 billion is currently under implementation, which act as an example of long, sustained collaboration. He views the state's relationship with World Bank as extending far beyond conventional financial support, the CM said.
'This is not just about loans — it is a partnership in technology, policy-making, and knowledge,' he noted.
Stressing on the need for World Bank's support in Tamil Nadu becoming a USD 1 trillion economy by 2030, measures to address climate change, and achieve Sustainable Development Goals, Stalin, however, said there are also some challenges involved.
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