India signs Financing Agreement with the World Bank for US$ 125 Million for "Skills Strengthening for Industrial Value Enhancement Operation (Strive) Project."

New Delhi: A Financing Agreement for IDA Credit of USD 125 million (equivalent) for the “Skills Strengthening for Industrial Value Enhancement Operation (STRIVE) Project” was signed by the Government of India with the World Bank yesterday in the national capital. The Financing Agreement was signed by Mr. Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India and Mr. Hisham Abdo, Acting Country Director, World Bank (India) on behalf of the World Bank.

The Objective of the operation is to improve access to quality and market-driven vocational training provided in it is 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; and Improved and Broadened Apprenticeship Training.

The closing date for the project is 30th November, 2022.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.