India, World Bank sign USD 119 Million loan agreement for OHEPEE Project

Nov 8, 2017 12:55 IST
World Bank

India and World Bank on 7 November 2017 signed a financing agreement for loan of USD 119 million for the Odisha Higher Education Programme for Excellence & Equity (OHEPEE) Project.

The loan will be provided by the International Bank for Reconstruction and Development (IBRD), subsidiary of World Bank.

The Financing Agreement was signed by Sameer Kumar Khare, Joint Secretary in Department of Economic Affairs and Hisham A Abdo Kahin, Acting Country Director of World Bank (India).

While, the OHEPEE Project Agreement was signed by GVV Sarma, Additional Chief Secretary of Department of Higher Education, Odisha and Hisham A. Abdo Kahin, Acting Country Director of World Bank.

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Highlights of the OHEPEE Project
• The objective of the project is to improve the quality of students equitable access to selected institutions in Odisha through Institutional Development Plan (IDP) Grants.
• It will enhance governance of the higher education system by improving governance in colleges and through improvement of financial and procurement management in all government and government-aided colleges.
• The project is expected to be completed by 30 November 2022.

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