Tamil Nadu and World Bank Forge Strong Partnership for Future Initiatives

On Tuesday, Tamil Nadu Chief Minister M K Stalin praised the state's long-standing partnership with the World Bank, highlighting joint government schemes and hinting at future initiatives. Speaking after inaugurating the World Bank's Global Business Centre in Chennai, he detailed the collaboration that began in 1971 with the Tamil Nadu Agri Loan scheme.

Chief Minister Stalin noted that the World Bank has consistently supported the state in numerous sectors, including infrastructure, health, and education, further benefiting from its first zonal office established in Chennai outside New Delhi in 2022. The bank-funded projects, such as the 'Thozhi' working women's hostel and electric buses set to launch in Chennai, demonstrate the collaboration's breadth.

With seven major initiatives backed by an estimated USD 1.12 billion World Bank loans underway, future plans are set to include USD 409.79 million for new projects. Initiatives like WE-SAFE for women's employment aim to bolster Tamil Nadu's economic targets, as emphasized by a 9.69 per cent growth rate and a GSDP of Rs 36.59 lakh crore. World Bank officials underscored Chennai's choice for the Global Business Centre due to its talent, infrastructure, and governance, reinforcing the city's importance in supporting the World Bank's global operations.

(With inputs from agencies.)