Government, ADB sign USD 85 million loan agreement to support skill development in Odisha
The Union Government has signed an $85 million loan agreement with the Asian Development Bank to improve the skill development eco-system in Odisha and establish an advanced skill training center, the World Skill Center, in the state’s capital city Bhubaneswar.
The Union Government on December 3, 2018 signed an $85 million loan agreement with the Asian Development Bank (ADB) to improve the skill development eco-system in Odisha and establish an advanced skill training center, the World Skill Center (WSC), in the state’s capital city Bhubaneswar.
The agreement was signed by the Additional Secretary in the Finance Ministry, Sameer Kumar Khare and the Country Director of ADB’s India Resident Mission, Kenichi Yokoyama in New Delhi.
The project will improve the quality of the state’s technical and vocational education and training programs by making them demand driven and relevant to the industry and will impart advanced occupation-ready skill training aligned with international standards.
• The skill development project will help over 150,000 people learn skills in priority sectors, including manufacturing, construction and services for formal employment.
• It would complement the efforts to target the employment needs of the emerging sectors in India and globally.
• It would engage Singapore’s Institute of Technical Education Services to support Odisha Skill Development Authority in setting-up and operationalising the World Skill Center.
• The World Skill Center would offer internationally bench marked advanced training programs for the working age population of Odisha.
• It will provide training to 5,000 teachers, 1000 assessors and deliver eight training courses for 13,000 full-time students.
• It will improve the overall eco-system of skill development in Odisha by providing integrated services through an entrepreneurship incubation center, a career counseling and placement center, a curriculum design and development center and education technology deployment center.
The multiple functions of the World Skill Centre will help support a network of Government ITIs and develop skills and capacity of Polytechnics College of engineering and other private skilling centres.
Besides, the ADB will also administer a $2 million technical assistance grant from the Japan Fund for Poverty Reduction, financed by the Japan Government that will support capacity development activities under the project.