(MENAFN- KNN India) SPV to help implement Tamil Nadu Rural Transformation Project: Pandirajan
New Delhi, Mar 17 (KNN) With a view to bring transformation in state, Tamil Nadu government has announced to set up Special Purpose Vehicle (SPV) to implement Rural Transformation Project (RTP).
This project is to be funded by the World Bank, said K Pandirajan, State Minister for Tamil Official Language and Tamil Culture.
Speaking at the 6th edition of AgriCon on Precision Agriculture Technologies, Pandirajan said 'the SPV is being created to make sure implementation of the project is not affected".
He further added that department of Rural Development, Agriculture, and Micro Small and Medium Enterprises will represent SPV.
The aim of Tamil Nadu RTP is to promote rural enterprises, have easy access to finance and employment generation in 26 districts to benefit more than 4 lakh people in the state.
In this regard, Central government and the World Bank have signed a $100-million loan agreement for 5 years.
Under Tamil Nadu Rural Transformation Project, 3 welfare schemes have been integrated; Pudhu Vaazhvu scheme involves women self-help groups, urban transformation and rural transformation schemes.
He said sole motive behind this is to promote entrepreneurship among farming communities.
Further it was mentioned that government that re-launched the Kudimaramathu project last year promoted community involvement in maintaining water bodies.
Over Rs 100 crore was allocated and 1000 water tanks were revived under this scheme.
Sharing his expectation from this scheme, he added 'with the allocation of ₹300 crore this year, we expect to triple the numbers. (KNN/YV)
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