JICA approves Rs 2K-crore loan for TN investment programme
CHENNAI: The Japan International Cooperation Agency (JICA) has inked a Rs 2,106-crore loan agreement for the third phase of the Tamil Nadu Investment Promotion Programme.
The funding aims to strengthen the state’s regulatory frameworks, infrastructure, and skill development initiatives, according to a press release.
The third phase of the programme will focus on sustainable and future-oriented development, particularly in emerging and green sectors.
Key components of the Tamil Nadu Investment Promotion Programme include the establishment of the Tamil Nadu Green Climate Fund (TNGCF) to support green and climate-smart industrial projects, as well as energy conservation incentives in partnership with Japan, the release stated.
Another crucial element is the Tamil Nadu Emerging Sector Seed Fund (TNESSF), which aims to promote investment in startups and high-growth industries, including semiconductors and advanced electronics. The TN World Innovation and Skill Training Hub will also be established to provide cutting-edge, industry-relevant skill development opportunities.
The programme further seeks to streamline the business environment for Japanese companies in Tamil Nadu by strengthening the Japan Desk, a collaborative initiative between the state government and JICA. The Industries, Investment Promotion & Commerce Department of the Government of TN will oversee the implementation of the programme, the release said.