The Tamil Nadu government is setting up a Special Purpose Vehicle (SPV) to implement the Rural Transformation Project (RTP) that is funded by the World Bank, said K Pandiarajan, State Minister for Tamil Official Language and Tamil Culture.

Addressing the 6th edition of AgriCon on Precision Agriculture Technologies here on Friday, Pandiarajan said the SPV will have representation from the departments of Rural Development, Agriculture, and Micro Small and Medium Enterprises. “The SPV is being created to make sure the implementation of the project is not affected,” he added.

The Tamil Nadu RTP aims is to promote rural enterprises, and improve access to finance and employment opportunities in 26 districts in the State to benefit four lakh people.

The Centre and the World Bank have signed a $100-million, five-year loan agreement for the project.

Three welfare schemes are being integrated under TNRTP — Pudhu Vaazhvu scheme involving women self-help groups, urban transformation and rural transformation schemes. Pandiarajan said the idea is to promote entrepreneurship among farming communities.

Last year, the government had relaunched the Kudimaramathu project, which promoted community involvement in maintaining water bodies. Around ₹100 crore was allocated and 1,000 water tanks revived.

“With the allocation of ₹300 crore this year, we expect to triple the numbers,” the Minister said.

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