World Bank approves $255.5 million loan for better technical education in government-run institutions in India

The World Bank has approved a $255.5 million loan for improving the quality of technical education in government-run institutions in India.

The World Bank has approved a $255.5 million loan for improving the quality of technical education in government-run institutions in India.

Over the next five years, the project will support around 275 government-run technical institutions in selected States across the country, benefitting more than 350,000 students each year.

The Multidisciplinary Education and Research Improvement in Technical Education Project will support improving student skills and employability by focusing on better research, entrepreneurship, and innovation; and improve governance in technical institutions.

As part of the project, students will get access to upgraded curricula including emerging technologies in communication and climate resilience. They will also benefit from better internship and placement services, including opportunities to network with professional associations, World Bank said.

"World Bank's Board of Executive Directors have approved a $255.5 million loan to help India improve the quality of its technical education and provide more career opportunities to students," the U.S.-based multilateral institution said in a statement.

Tertiary education in India has been growing steadily from 29 million enrolled students in 2011-12 to 39 million enrolled students across 40,000 institutions in 2019-20.

While India's tertiary education sector is among the largest in the world, recent studies note increased gaps in both technical and non-technical skills such as reasoning, interpersonal communication, and conflict resolution, the World Bank said.