At a meeting with the top officials of the Japan International Cooperation Agency (JICA), Tamil Nadu Chief Minister J Jayalalithaa sought the agency’s support to fund business and infrastructure projects in the state.
Akihiko Tanaka, President of JICA met Jayalalithaa in the Secretariat recently. During the meeting, the chief minister is learnt to have asked the president to create a separate line of credit to support private companies partnering with the Government in infrastructure projects.
Specifically, JICA was asked to support the Tamil Nadu Infrastructure Development Fund for providing viability gap funding for public-private partnership projects and provide long-term financing directly to private sector developers to enable them to reach financial closure early.
In order to develop bankable PPP projects, JICA may also assisting the Project Preparation Fund of the Tamil Nadu Infrastructure Development Board.
The state government is in the process of releasing the second volume of Vision Tamil Nadu 2023 document, which lists over 200 infrastructure projects that are needed in the state.
JICA has lent Rs 3,410 crore for the Tamil Nadu Transmission System Improvement Project to strengthen power transmission network in the state.