New Delhi: The Odisha Government on Monday signed a loan agreement with the Asian Development Bank for USD 85 million to train 1.5 Lakh youngsters in the state.
With this assistance, youths in the age group of 15-34 years will be given skill development training to make them competent to get better work and higher paying jobs, a statement said.
The Project Agreement was signed by Skill Development and Technical Education Department Secretary Cum Commissioner Sanjay Kumar Singh and Kenichi Yokoyama, Country Director, ADB India Office. The total cost of the project is USD 193 million with the Odisha government contributing USD 108 million.
In addition, the Japanese government will provide technical aid for capacity building through the Japan Fund for Poverty Reduction. The Manila-headquartered multi-lateral funding agency will also help with a USD 2 million technical assistance for capacity building component of the project.
Under the Project, Odisha Skill Development Authority and ITE Education Services, Singapore will cooperate in the establishment and operation of World Skills Centre (WSC) in Bhubaneswar.
Training programs at WSC have been designed to cater to the requirement of the Industry through experiential learning. World Skill Centre would also act as Hub for all the Spoke ITI’s to train the trainers, advising on the curriculum development and developing the infrastructure of the ITI’s to make ready for the future skills.
The project aims to significantly reduce unemployment and underemployment rates in the state by 2025. The project will help provide more equitable access to skill development programmes, improve quality and relevance of skills development, strengthen state’s skill environment through knowledge partnerships and improve institutional capacity.
The loan agreement was signed by Mr. Sameer Kumar Khare, Additional Secretary (Fund Bank & ADB) and Mr. Kenichi Yokoyama, Country Director, ADB India Office.