Wednesday, November 11, 2014: India has signed a deal of $200 million loan agreement with the World Bank to help small enterprises to enhance their productivity by financing the set-up of technology centres. The finance minister Arun Jaitley said, “The Loan Agreement for World Bank (IBRD) financing of USD 200 million for Technology Centre System Programme (TCSP) was signed here today between Government of India and the World Bank.”
The programme aims at setting up 15 new Technology Centres and also for modernising existing 18 Technology Centres at an estimated cost of Rs. 22,000 million along with the World Bank assistance of $200 million.
The pact was signed by Tarun Bajaj, joint secretary in the Ministry of Finance on behalf of India and the Country Director of World Bank, Onno Ruhl on behalf of World Bank.
The project will help in improving the productivity of MSMEs (Micro, Small and Medium Enterprises) by improving their access to technology and business advisory services and also the skilled workers via financially sustainable technology centres.
