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World Bank approved $201.50 million for Technical Education Quality Improvement Project in India

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United States based World Bank’s Board of Executive Directors has approved $201.50 million for Technical Education Quality Improvement Project III in India

Purpose: To improve the quality of Engineering education in selected states of India

Objectives of the projects

  • To improve quality and equity in participating engineering education institutesWorld Bank
  • To enhance the efficiency of the engineering education system in states

Fund Allotted: $201.50 million

Maturity period: 25 years plus 5 years grace period

Components of the Projects

Improving quality and equity in engineering institutes in focus states

Aim to enhance engineering education in all government and aided colleges including Andaman and Nicobar Islands, North East States and hill states

System-level initiatives to strengthen sector governance and performance

Support the Ministry of Human Resource Development (MHRD) and key apex bodies including the All India Council for Technical Education (AICTE) and National Board of Accreditation (NBA)

It will strengthen sector governance, management, accountability mechanisms and performance in the overall system of engineering education

About World Bank:

International financial institution that provides loans to developing countries for capital programs

  • Headquarters           Washington, D.C., United States
  • Established              December 27, 1945
  • President                 Jim Yong Kim