World Bank approves $255.5 million loan for better technical education in government-run institutions in India

While India's tertiary education sector is among the largest in the world, recent studies note increased gaps in both technical and non-technical skills such as reasoning, interpersonal communication, and conflict resolution, the World Bank said.

June 24, 2023 05:46 pm | Updated 07:15 pm IST - New Delhi

File picture of the World Bank building in Washington

File picture of the World Bank building in Washington | Photo Credit: AP

The World Bank has approved a $255.5 million loan for improving the quality of technical education in government-run institutions in India.

Over the next five years, the project will support around 275 government-run technical institutions in selected States across the country, benefitting more than 350,000 students each year.

The Multidisciplinary Education and Research Improvement in Technical Education Project will support improving student skills and employability by focusing on better research, entrepreneurship, and innovation; and improve governance in technical institutions.

As part of the project, students will get access to upgraded curricula including emerging technologies in communication and climate resilience. They will also benefit from better internship and placement services, including opportunities to network with professional associations, World Bank said.

"World Bank's Board of Executive Directors have approved a $255.5 million loan to help India improve the quality of its technical education and provide more career opportunities to students," the U.S.-based multilateral institution said in a statement.

Tertiary education in India has been growing steadily from 29 million enrolled students in 2011-12 to 39 million enrolled students across 40,000 institutions in 2019-20.

While India's tertiary education sector is among the largest in the world, recent studies note increased gaps in both technical and non-technical skills such as reasoning, interpersonal communication, and conflict resolution, the World Bank said.

"India has one of the largest and fastest-growing tertiary education systems in the world. The project will support Government of India's National Education Policy 2020, which calls for modernizing this critical sector to better prepare students for emerging jobs and business opportunities," said Auguste Tano Kouame, the World Bank's Country Director for India. "Improving female participation in technical education will receive special attention."

The project will support participating institutions to organize outreach programmes providing prospective female students, parents, and guardians with more and better information on technical education programme options, build sensitivity to gender issues, and address misconceptions about women's capabilities in the science, technology, engineering and math (STEM) fields.

The $255.5 million loan from the International Bank for Reconstruction and Development (IBRD) has a final maturity of 14 years including a grace period of five years.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.