The World Bank has offered $ 500 million interest-free credit to India to improve the levels of secondary education, an official statement said Friday.
The World Bank today approved the loan will help the Indian government's efforts to make quality education ", available, accessible and affordable to all young people in secondary school (grades 9 and 10)."
The project will support all activities as planned in the $ 12.9 billion Rashtriya Madhyamik Shiksha Abhiyan (RMSA), a flagship program of the government of India program for progressive universalization of secondary education, the World Bank said in a statement.
"This World Bank project will support the objectives and activities of RMSA. Provide a set of mechanisms built around identifying what is needed to improve the quality of secondary education," said Venu Rajamony, joint secretary, issues cheap finance ministry of India.
The project will be financed by a loan from the International Development Association (IDA) - concessionary lending arm of the World Bank - which provides interest-free loans with 25 years to maturity and a grace period of five years.
The money will be used to create libraries, computer labs, rehabilitation of primary schools to secondary schools and teacher training.
In addition, expansion, repair and renovation will take place in about 60,000 public high schools already exist, some 44,000 upper primary schools that will become secondary schools and about 11,000 new and higher schools will come up on particularly in underserved areas.
Efforts are also made to strengthen the role of local bodies in school management, which can, over time, lead to greater accountability and better results, said the World Bank.
"RMSA is a young program, which is expected to grow rapidly and therefore is an opportunity for the World Bank to support the government of India in the creation of effective systems for the program expands and improves the quality," said Roberto Zagha, World Bank Country Director for India.
Zagha said that one of the main concerns of India in these days was the issue of quality education.
"Simple improved access, quality certification if it can not be conducive to inclusive growth international research confirms that better quality -. Measure for cognitive skills - is important in determining future income and contribution economic growth, "he said.
"So the country needs all its young people receive good quality secondary education," said Zagha.
Project funded by the World Bank is designed to meet critical needs in secondary education.
"First, to ensure that secondary education is expanded so that the quality and equity have been improved, while, secondly, to develop and evaluate innovative methods for secondary education, and in third Instead, to use the resources of the World Bank to help the government address the systemic problems in the sector. "
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