Business & Economy

World Bank to provide $ 250 million IBRD loan for Skills Acquisition Project

NetIndian News Network

New Delhi, December 13, 2017

The Government signed a financing agreement with the World Bank for IBRD loan of $ 250 million (equivalent) for the Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) Project here today.
 The agreement was signed in by Mr. Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, on behalf of Government of India and Mr. Junaid Kamal Ahmad, Country Director, World Bank (India) on behalf of the World Bank. 
An official press release said the project is aimed  at enhancing institutional mechanisms for skills development and increase access to quality and market-relevant training for the work force. 
The key result areas for the project include Institutional Strengthening at the National and State Levels for Planning, Delivering, and Monitoring High-Quality Market-Relevant Training; Improved Quality and Market Relevance of Skills Development Programs; Improved access to and completion of skills training for female trainees and other disadvantaged groups; and Expanding skills training through private-public partnerships (PPPs). 
The closing date for the project is 31st March, 2023, the release added.