India Signs Loan Agreement with World Bank for US$ 200 Million for Technology Centre System Programme (TCSP)

On 10-11-2014, the Loan Agreement has been signed between India and the World Bank for the World Bank (IBRD) to finance US$ 200 million for setting up 15 new Technology Centres and to modernize/ upgrade existing 18 Technology Centres. The objective of the project is to enhance the productivity of Ministry of Micro, Small & Medium Enterprises (MSMEs) by improving their access to technology and business advisory services as well as skilled workers through systems of financially sustainable technology centers. The estimated cost for the Technology Centre System Programme (TCSP) is Rs. 2200 crore (US$ 400 million) including World Bank assistance of US$ 200 million.  The project will have three components: (i) Technical assistance to the Technology Centres, (ii) Investment to upgrade existing/ develop new Technology Centres, and (iii) Technical assistance to the MSME Ministry for programme implementation and monitoring & evaluation.