World Bank will be providing a loan of amount US $125 million equivalent to around Rs. 800 crore to India for the STRIVE project of India for skill development. The agreement regarding the world Bank Loan for STRIVE project was signed between the World Bank and Finance Ministry on 19 December, 2017.
Main Points to Note Down:
The aim of the project is to improve access to quality and market-driven vocational training and also to improve apprenticeships. Following are the benefits which will be provided under the project:
- Improved Industrial training institutes
- Increase in capacities of state governments to support industrial training institutes and apprenticeship training.
- Improvement in teaching and learning
- Improved and broadened apprenticeship training