The Chief Minister of MK Stalin on Tuesday inaugrates the global shopping center of the World Bank in Chennai Global in Taramani. | Photo Credit: Special Arrangement
Tamil Nadu main Minister MK Stalin said on Tuesday that interest rates for development loans were high, in the range of 6% and 7%, and expected the World Bank to support investments aimed at meeting the social and economic requirements of people.
In his speech after the start of the start of the Global Trade Center of the World Bank in Chennai, Taramani, he emphasized the support of the World Bank for Tamil’s efforts to solve climate change, achieve the goals of sustainable development and strengthening women.
“I think we should look back at some of the challenges when achieving our goal. The interest rate for development loans is high, between 6% and 7%. In the coming days, we expect the World Bank to support investments that meet people’s socio-economic requirements, by providing innovations and changes,” he said.
The main minister said that the government of Tamil Nadu will cooperate with the World Bank at long -term goals to become a “model state”. He also remembered the support of the World Bank to the Tamil Nadu government in implementing development initiatives and social measures.
Union TV Minister of Cabinet Somanathan has remembered his connection with the World Bank since 1996 and pointed out how part of several important opportunities for the World Bank unit in Chennai. The success of this office was a testimony to India’s attraction in general and especially Chennai, especially for the service sector around the world, he said.
“This office is international in quality and Indian cost of cost. It is global in Outlook and local talent. It is cosmopolitan culturally, but conservative financially. I wish the World Bank group and the Tamil government continued this effort,” Somanathan said.
The CEO and Chief Administrative Director of the World Bank Group Wencai Zhang stressed that the World Bank and Tamil shared a rich history of cooperation. Together they had both advanced developments in areas such as rural living and skills, infrastructure, education, health and intelligent cities. “We are well placed to deal with future challenges and help the World Bank group achieve our mission to end extreme poverty and increase shared prosperity on a habitable planet.”
The director of the World Bank country for India Auguste Tano Kouamé said that Chennai has grown to become the second largest trace of the world bank around the world, which serves 130 countries. “In many ways, the growth of our presence in Chennai was a mirror of the growing importance of the economy of Tamil Nadu and Chennai as an investment destination,” he said. The manager of the global shopping center Chennai Sunil Kumar thanked the assembly.
Published – 10 June 2025 17:43
