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Indo-WB inked Financing Agreement worth US$300 Million for MPHEQIP

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Washington D.C. headquartered World Bank, Government of India and Government of Madhya Pradesh has inked a credit concord worth of US $300 million for the Madhya Pradesh (MP) Higher Education Quality Improvement Project.

  • The credit has been given by the International Development Association (IDA), the World Bank’s concessionary lending arm.
  • It is sanctioned for a period of 25 years, including a 5 year grace period.

The aforesaid project will improve student learning outcomes in select government run higher education institutions of state.

Indo-WB inked Financing Agreement worth US$300 Million for MPHEQIP

About Project:

  • The project will improve the quality of learning, employability and research in higher education institutions of state.
  • It will also increase the overall effectiveness of the higher education system in Madhya Pradesh.
  • 6 million Students, 10,800 academic staff and 1,400 administrators and officers in government colleges and universities will get direct benefit.
  • The project will also help in creating Centers of Excellence in select colleges and university departments to prepare best practice teaching-learning and research.
  • Provide financial support to disadvantaged and meritorious students through scholarships.
  • Upgrade qualifications and skills of new and existing faculty members through a state institute for higher education training and research.

The project will extend technical assistance to government run higher education institutions to gain accreditation with the National Assessment and Accreditation Council (NAAC).

Keys Madhya Pradesh:

  • Nickname – Heart of India
  • CM – Shivraj Singh Chouhan
  • Capital – Bhopal, Jabalpur (Judiciary)