Asian Development Bank to provide $112 million to set up skill university

Manila-headquartered multilateral lending agency Asian Development Bank (ADB) will provide a USD 112-million loan to establish a skill university in Assam.

"The Government of India and the ADB signed on December 17 a USD 112-million loan to set up a skill university in Assam that will strengthen industry-aligned and flexible skills education and training system in the state," it said in a statement.

Rajat Kumar Mishra, additional secretary in the Ministry of Finance, signed for Government of India the agreement for the Assam Skill University (ASU) Project, while Takeo Konishi, country director of ADB's India Resident Mission, signed for ADB.

The project will support the design and construction of environmentally sustainable and climate-resilient ASU campus and facilities equipped with state-of-the-art technologies, ADB said. It will also develop the ASU's management and operating systems, business models, and promote professional development of faculty members.

Partnerships with leading institutional and industry partners will ensure designing of industry-aligned and flexible skills education and training programmes.

These will include cutting-edge digital skills programmes, career development programmes and services, and continuing education programmes, ADB said.

"The project will enhance collaboration between the ASU and technical and vocational education and training (TVET) institutions and higher education institutions within the state and in neighboring countries to establish programs for common strategic industries," it said.

Courses offered would include agricultural and food technology, manufacturing and construction, mobility, management and finance, tourism, hospitality and healthcare.

ADB also said the loan is supplemented by a USD 1 million grant from the Japan Fund for Poverty Reduction to support introduction of technologies for smart campus management and integrated teaching, learning, and career development management.