Updated By: LatestGKGS Desk
India & ADB signs $85 million loan agreement for Odisha Skill Development Project
India & ADB signs $85 million loan agreement for Odisha Skill Development Project: Details, Aim, Significance, Highlights
The Government of India and Asian Development Bank (ADB) on 4th Dec 2018, has signed $85 million loan agreement for Odisha Skill Development Project.
This loan aims to improve the skill development eco-system in Odisha and establish World Skill Center (WSC), an advanced skill training center in state capital Bhubaneswar.
Odisha Skill Development Project is believed to improve quality of State’s TVET (Technical and Vocational Education and Training) programs by making them relevant to industry and demand driven. It will impart advanced occupation-ready skills training aligned with international standards.
The project will also complement efforts to target the employment needs of the emerging sectors in India and globally. It will engage Institute of Technical Education Services (ITEES), Singapore to support Odisha Skill Development Authority in setting-up and operationalizing WSC.
This centre will offer internationally bench marked advanced training programs for the working age population of Odisha. It will deliver eight training courses for 13,000 full-time students, provide training for 5,000 teachers and train 1,000 assessors.
The project will help over 150,000 people learn skills in priority sectors, including manufacturing, construction and services for formal employment. It will improve overall eco-system of skill development in Odisha by providing integrated services through entrepreneurship incubation center, career counseling and placement center, curriculum design and development center and education technology deployment center.
These important functions of WSC will support a network of Government ITIs and develop skills and capacity of polytechnics, college of engineering, and other private skilling centers.
ADB will also administer $2 million technical assistance grant from Japan Fund for Poverty Reduction, aided by Japanese Government that will support capacity development activities under the project
