World Bank will help for better technical education in India, $ 255 million loan approved
To improve the quality of technical education in India, the World Bank has approved a loan of US$ 255 million to India which will help 275 government-run technical institutions across the country in the coming five years. These 275 technical institutes will be from those states which will be selected. Lakhs of children will be benefited from this project.
The World Bank has approved a loan of US$ 255.5 million to improve the quality of technical education in government institutions in India. The loan will support around 275 government-run technical institutions in selected states across the country, over the next five years.
The final maturity of the loan of US $ 255.5 million from the International Bank for Reconstruction and Development (IBRD) is 14 years, including a grace period of five years.
More than 350,000 students will be benefited every year from the loans given by the World Bank to improve the quality of technical education.
The multidisciplinary education and research reforms in technical education projects aim to enhance the skill and employability of students through enhanced research, entrepreneurship, innovation, and improved governance in technical institutions.
As part of the project, students will have access to advanced courses including emerging technologies in communications and climate resilience. The World Bank said that students will also benefit from better internship and placement services, including opportunities to network with professional associations.
The World Bank's Board of Executive Directors approved a USD 255.5 million loan to help India improve the quality of its technical education and provide more career opportunities to students, the US-based multilateral institution said in a statement. given.
College and university enrollment in India has grown from 29 million enrolled students in 2011-12 to 39 million enrolled students in 40,000 institutions in 2019-20.
The World Bank said that the college and university education sector in India is the largest in the world. According to a recent study by the World, there has been a huge gap in technical and non-technical skills such as reasoning, interpersonal communication, and conflict resolution.
This World Bank project also supports the Government of India's National Education Policy 2020, which helps modernize this critical sector to better prepare students for emerging jobs and business opportunities.
