The Tamil Nadu Government has urged the Japan International Cooperation Agency to create a separate line of credit to support private companies partnering with the Government in infrastructure projects.

Chief Minister J. Jayalalithaa sought the agency’s support at a meeting with its President Akihiko Tanaka in the Secretariat today, according to an official press release.

The Chief Minister requested that a separate line of credit will 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.

JICA could also consider assisting the Project Preparation Fund of the Tamil Nadu Infrastructure Development Board to develop bankable PPP projects.

The second volume of Vision Tamil Nadu 2023 document to be released soon lists over 200 infrastructure projects that are needed in the State. This year the Tamil Nadu Transmission System Improvement Project is to be implemented with a JICA loan of Rs 3,410 crore to strengthen power transmission network in the State.

The Chennai Waterways Restoration Project, components of the State Highways Development Project, upgrading Urban Infrastructure in extended areas of Chennai, and the Madurai- Tuticorin Industrial Corridor are candidate projects which JICA could consider for financing in the next financial year, she said.

Jayalalithaa welcomed JICA’s support in formulating the Tamil Nadu Investment Promotion Programme and looked forward to the early signing of the loan agreement, the release said.

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