India Signs Loan Agreement With World Bank
In yet another boost to the Micro, Small and Medium Enterprises (MSME) sector, the government has signed a loan agreement worth $200 million with the
“TCSP is for setting-up of 15 new Technology Centres (TCs) and to modernize and upgrade existing 18 TCs at an estimated cost of Rs. 2200 crore (US$ 400 million) including World Bank assistance of US$ 200 million”, said the Ministry of Finance in a statement.
It further added that the project has been divided into three levels which include technical assistance to the TCs, making investment to upgrade and develop the existing TCs and lastly providing technical assistance to the MSME Ministry for implementation, monitoring and evaluation of the project.
The agreement was signed by Onno Ruhl, Country Director (India), World Bank and Tarun Bajaj, Joint Secretary,