Latest news with #WE-SAFE
New Indian Express
2 days ago
- Business
- New Indian Express
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.
Time of India
2 days ago
- Business
- Time of India
Stalin unveils World Bank-funded projects for women, blue economy
Chennai: Tamil Nadu will soon launch three major projects worth $409.79 million in partnership with World Bank, chief minister M K Stalin announced on Tuesday in Taramani. He was speaking after inaugurating the revamped Global Business Centre, which houses more than 1,500 employees and provides support services to 189 countries through more than 130 World Bank offices worldwide. Among the upcoming initiatives is Women Employment and Security (WE-SAFE) project, which aims to bring more women into the workforce, particularly in high-growth, non-agricultural sectors. "We have allocated 1,185 crore over the next five years for this scheme," Stalin said. Two other initiatives in the pipeline include a project focused on sustainable marine resource management and the second phase of the Tamil Nadu Rural Rejuvenation Project. Tracing TN's five-decade-long association with the World Bank, Stalin highlighted landmark projects - the Nutrition and Health Systems Projects, which helped make the state a national leader in maternal and child health. He also cited the success of the Vazhndhu Kaattuvom scheme, which benefited over 20 lakh rural families, created 1 lakh new enterprises, and generated 53,000 jobs for women. "The World Bank's support for Tamil Nadu goes beyond mere loans—it reflects a shared commitment to sustainable, equitable, and lasting progress. Together, we are building a future where no one is left behind," said Stalin. Other transformative projects include the urban development project, road sector project, the TNIAMWARM irrigation initiative, and the coastal disaster risk mitigation programme. He also noted the $190 million loan to support urban housing for the economically weaker sections. Calling for lower interest rates on development loans, Stalin urged the Bank to continue backing TN's vision of achieving a $1 trillion economy by 2030 through climate action, inclusive growth, and technological collaboration.
Hindustan Times
3 days ago
- Business
- Hindustan Times
TN CM hails state's partnership with World Bank
Chennai, Tamil Nadu Chief Minister M K Stalin on Tuesday hailed the state's partnership with World Bank, pointing to the various government schemes launched with its assistance and said more initiatives are on the anvil. In his address after inaugurating the Global Business Centre of the World Bank here, Stalin recalled that the state's partnership with the bank started as early as in 1971, through the Tamil Nadu Agri Loan scheme. "Ever since, World Bank has been supportive of Tamil Nadu in sectors like infrastructure, health, education, disaster management and urban development," the CM said. He said that WB's first zonal office outside New Delhi was set up here in 2022. "The long-term relation with World Bank has benefited us in many departments," he said and listed out WB-aided initiatives across different sectors. He said World Bank has supported the government's 'Thozhi' working women's hostel as well. "Soon, low-floor electric buses are going to be launched in Chennai. World Bank has aided us in this also," he said. Currently, seven major initiatives of the Tamil Nadu government at an estimated USD 1.12 bn World Bank loans are being implemented. In the future, "important schemes" with World Bank aid of about USD 409.79 will be implemented in the state. This includes WE-SAFE, a women's employment and security initiative that was launched by Deputy CM Udhayanidh Stalin, the CM said. He said women played a key role in the state's ambitious USD 1 trillion objective and called them "the backbone of Tamil Nadu's economy." On the economy front, the state has clocked a 9.69 per cent growth rate, while its GSDP stood at ₹36.59 lakh crore. The state's relation with WB vis-a-vis its USD 1 trillion dollar aim by 2030 was not merely confined to the latter's loan assistance. "I see it as a partnership of Technology, Policy Making and Knowledge," the CM said. Cabinet Secretary T V Somanathan, top officials of World Bank and the state government participated in the event. Separately, the CM inaugurated a "Book Park" set up at a cost of ₹1.85 crore at the Chennai Central Metrol Rail station and 110 additional library buildings across the state, built at a cost of ₹29.80 crore, an official release said.
