The National Skill Development Corporation (NSDC) has raised Rs 4 crore from the National Bank for Agriculture and Rural Development (NABARD) through its maiden issuance of Zero Coupon Zero Principal (ZCZP) instruments on the National Stock Exchange’s (NSE) Social Stock Exchange (SSE). The funds raised will be used to provide skilling and employment opportunities to 600 youth from economically weaker other backward classes (OBC) households in Madhya Pradesh.The programme, with an estimated outlay of Rs 11.25 crore, aims to prepare 600 candidates for international employment opportunities, with 300 candidates earmarked for Japan and another 300 for Germany, the ministry of skills development and entrepreneurship said in a statement on Thursday.

The programme adopts a blended-financing model under which beneficiaries will contribute 15% of the total cost, 35% will be mobilised through the Social Stock Exchange, and the remaining 50% will be provided by the Madhya Pradesh government upon successful international placement of candidates. The state government will also support candidate mobilisation, residential training infrastructure and language laboratories, it added.