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World Bank lends to Tamil Nadu’s rural enterprises

E-governance architecture to track real time results

Source: Picture from Reliance-Foundation_Rural-Transformation-CSR-Project.

The World Bank is lending US$100 million for rural enterprises, facilitate their access to finance, and create employment opportunities in Tamil Nadu.

The loan agreement was signed in New Delhi on 30 Jan 2018 for the Tamil Nadu Rural Transformation Project which will create jobs for youth, particularly women.

The Project will be operational in 120 blocks across 3,994 villages in 26 Districts of Tamil Nadu with 411,620 direct beneficiaries.

It will create an enabling environment for producer organizations and enterprises to promote businesses across select value chains.

‚ÄčAn e-governance architecture with the use of ICT along with a robust Management Information System (MIS) will help monitor and track results real time.

The loan from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a maturity of 19 years.

Based on the analysis, communities will identify commodities and subsectors in the value chain for preparing business plans.

Thirty percent of the financing for these business plans will be through a matching grant program from the project and the remaining 70% will be leveraged from other financial institutions.

The Project will enable producer organizations and enterprises especially women entrepreneurs in Tamil Nadu, build businesses that will help them access finance, markets and networks and generate employment. fii-news.com

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