JICA signs agreement with Centre for loan to Telangana

This initiative is strategically designed to extend support not only to urban entrepreneurs but also to women and aspiring business leaders in rural areas.

Hyderabad: Japan International Cooperation Agency (JICA) on Tuesday signed a loan agreement with the Centre to offer a Japanese Official Development Assistance (ODA) loan of Rs.1,336 crore to the Telangana government to address job creation and economic development challenges, besides augmentation of the startup ecosystem in the State.

This initiative is strategically designed to extend support not only to urban entrepreneurs but also to women and aspiring business leaders in rural areas. The loan agreement for the project was signed between Vikas Sheel, Additional Secretary, Department of Economic Affairs, Ministry of Finance and SAITO Mitsunori, Chief Representative, JICA India, according to a press release.

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Speaking on the occasion, SAITO Mitsunori, Chief Representative of JICA India office said, “Our initiative to promote start-ups and innovation in Telangana aims to enhance socio-economic development in the region. I am very pleased to announce that this is the very first project in which JICA supports promotion of start-up ecosystem and innovation by ODA loan in the world.”