Updated By: LatestGKGS Desk
Tamil Nadu gets its approval to launch State Shelter Fund
Tamil Nadu to launch its State Shelter Fund for attracting investment in the affordable housing segment
United economic Forum chamber of commerce and world Islamic economic forum foundation at a conference on Innovative and alternative Finance for Business and Infrastructure Development in India deputy chief minister of the state O Pannerselvam made an announcement for the approval of State Shelter Fund.
State shelter Fund is for attracting investments in the affordable housing segment, Deputy Chief Minister said in his statement.
Minister said The fund is a social impact to provide investors with profit besides getting social and environmental benefits.
On infrastructure fund taking up the project, he said the first round of funding has been raised from both local and international investment.
The government said a fund has declared $350 million for this project.
It has identified over 200 infrastructure projects requiring an investment of approximately $250 billion.
Security and Exchange Board of India is the market regulator and it is important for the state to gets its approval for the infrastructure project so that financial requirement is too completed by it.
