In 2018, the government had received the nod from Securities and Exchange Board of India to launch the fund
The World Bank has evaluated the Tamil Nadu Shelter Fund for attracting investments in the affordable housing segment and is likely to provide seed investment, deputy chief minister O Panneerselvam said Friday.
The state government has registered the Fund with market regulator SEBI to attract domestic and global investors.
"The fund would be deployed to create environment friendly, quality affordable houses for sale to the poor and middle class families," Panneerselvam said, while presenting the budget for 2019-20, here.
In 2018, the government had received the nod from Securities and Exchange Board of India to launch the fund.
Panneerselvam, who holds the finance ministry portfolio, said, the fund would also be used to set up affordable hostel facilities for working women to address their needs and also to senior citizens and the differently abled.
The World Bank has evaluted this fund and is likely to provide seed investment.