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India signs US$ 125 million worth financing agreement with World Bank

Dec 20, 2017 14:51 IST
India signs US$ 125 million worth financing agreement with World Bank

India on 19 December 2017 signed a financing agreement worth US$ 125 million with the World Bank for ‘Skills Strengthening for Industrial Value Enhancement Operation (Strive) Project”.

The agreement for the IDA credit was signed by the Government of India with the World Bank in the national capital of the country, New Delhi.

While Sameer Kumar Khare, the Joint Secretary in the Department of Economic Affairs, Ministry of Finance signed the deal on behalf of the Union Government, Hisham Abdo, the Acting Country Director of World Bank (India) signed on behalf of the World Bank.

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Key Objective

The main objective of the operation is to improve access to quality and market-driven vocational training and apprenticeships.

The result areas for the project include:

• Improved Performance of Industrial Training Institutes.

• Increased Capacities of State Governments to Support Industrial Training Institutes and Apprenticeship Training.

• Improved Teaching and Learning.

• Improved and Broadened Apprenticeship Training.

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The project would conclude on 30 November 2022.

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