NABARD fully subscribed to the National Skill Development Corporation's maiden ₹4 crore ZCZP issuance on Wednesday. This project aims to help 600 rural youth from Madhya Pradesh find jobs in Japan and Germany. NABARD said, "The programme is designed to focus on verified overseas employment and sustained livelihood enhancement."
The National Bank for Agriculture and Rural Development (NABARD) on Wednesday said it has fully subscribed to the National Skill Development Corporation's (NSDC) maiden issuance of Zero Coupon Zero Principal (ZCZP) instruments aggregating ₹4 crore on the Social Stock Exchange (SSE) platform of the National Stock Exchange (NSE).
Funds raised via the aforementioned issuance, which is part of a project with an estimated outlay of ₹11.25 crore, are aimed at creating sustainable overseas employment opportunities for 600 rural youth belonging to Other Backward Classes (OBC) in Madhya Pradesh, NABARD said in a statement.
Under the project, NABARD is participating through subscription to the ZCZP issue, while the Government of Madhya Pradesh is expected to provide outcome-linked funding of ₹5.60 crore upon achievement of agreed employment outcomes. The balance funding is proposed to come through beneficiary contributions.
The project aims to equip rural youth with internationally relevant skills required for employment opportunities in Japan and Germany, NABARD said.
"Beneficiaries will receive language training, technical skill development, certification, cultural orientation and end-to-end support for overseas placement, including documentation and deployment assistance. The initiative seeks to create durable livelihood opportunities and improve income prospects for rural households through access to global labour markets," per the statement.
ZCZP instruments carry no financial returns for subscribers. Proceeds will be deployed to generate social returns by strengthening livelihoods through skill development, according to NSDC.
"A distinctive feature of the project is its emphasis on outcomes rather than activities. The programme is designed to focus on verified overseas employment and sustained livelihood enhancement rather than merely training completion. This approach represents an important shift towards evidence-based development financing where social impact remains central to programme design and implementation," NABARD said.