India inks $74 million loan pact with World Bank for Uttarakhand

Dehradun, September 19: India has signed a financing loan agreement with the World Bank for $74 million for Uttarakhand Workforce Development Project (UKWDP), a finance ministry statement said Tuesday.

 

As per the statement, the project objective is to improve the quality and relevance of training at priority Industrial Training Institutes (ITIs) and to increase the number of labor-market-relevant workers through short-term training in Uttarakhand.

The project has three components improving the quality and relevance of ITI training; increasing the number of skilled workers certified under the National Skills Qualification Framework (NSQE); and policy and institutional development and project management.

"A total of 25 ITIs have been selected -- 13 in district centers and 12 that are well-linked to industries. Two of the four women ITIs in the state will be included in the list," it added.

The project, supposed to end in June 2023, has a five-year grace period and a maturity of 17 years, the government said.

The project has a 5-year grace period, and a maturity of 17 years. The closing date for the project is June, 2023.