The World Bank has approved a loan of USD 255.5 million to support technical education in government-run institutions in India. The project is expected to benefit more than 350,000 students per year over the next five years across 275 government-run technical institutions in selected states.
The project, Multidisciplinary Education and Research Improvement in Technical Education, aims to improve student skills and employability by focusing on research, entrepreneurship, and innovation while also improving governance in technical institutions.
The project will provide students with access to upgraded curricula, including emerging technologies in communication and climate resilience, as well as better internship and placement services.
The World Bank stated that the project aligns with India’s National Education Policy 2020, which aims to modernize the tertiary education sector to better prepare students for emerging jobs and business opportunities.
The project will also focus on improving female participation in technical education by providing outreach programs and addressing misconceptions about women's capabilities in STEM fields. The loan has a final maturity of 14 years, including a grace period of five years.
