Himachal boosts skill development projects to train 65,000 youth; ADB agrees to give loan of Rs 512 crore

NewsBharati    08-Apr-2018
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Shimla, April 8: In a bid to make 65,000 youth of a state more skilled, the Asian Development Bank (ADB) has agreed to give Rs. 512 crore loan to Himachal Pradesh. The funds given by ADB will help improve the skills of youth in Himachal Pradesh and modernize Technical and Vocation Education and Training Institute (TVET).

 

Notably, Asian Development Bank and government of Himachal Pradesh on Sunday signed Rs. 512 crore loan agreement to help improve the skills of youth in state modernize Technical and Vocation Education and Training Institute (TVET).

However, this project of the estimated cost of USD 100 million (Rs. 640 crore) is expected to be completed by the end of 2022 and Himachal government will get 90 percent of the loan component as a grant from the government of India.

The funds would be made available for short and long-term training programmes to the youth in the automobile, electronics, pharmaceuticals, tourism and hospitality, banking and financial services and health etc. sectors under the project

A Spokesperson of the Himachal government said that under this project, approximately 65,000 youth of State will be given special training as per the standards of National Skills Qualifications Framework (NSQF). This project would go a long way in setting up basic institutionalized institutes at various levels in the state. A polytechnic for women, six city livelihood centres and seven rural livelihood centres would be set up under it besides upgrading 10 employment exchanges as model career centres.

He said these efforts of State Government will help in creating awareness among youth about TVET programmers, modernization of training equipment, implementation of MIS, enhance partnership with private sector and creating market-oriented training and livelihood opportunities for the youth of Himachal Pradesh.