World Bank approves USD 255.5 mn loan for better technical education in govt-run institutions

New Delhi:  The World Bank has approved a USD 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.

Multidisciplinary Education & Research Improvement will support improving student's skills & employability

The Multidisciplinary Education and Research Improvement in Technical Education Project will support improving student's skills and employability by focusing on better research, entrepreneurship, and innovation, and improving 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 approved USD 255.5 mn loan for improving technical education

"World Bank's Board of Executive Directors have 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. 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.

'India has one of the largest & fastest-growing tertiary education systems in world'

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's National Education Policy 2020, which calls for modernising 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," Kouame added.

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