The World Bank has approved a credit of $1.05 billion (around Rs 4,830 crore) to support two education projects in India. The projects would boost the number of children enrolling in and completing elementary school and improve the quality of engineering education. The credits were provided by the International Development Association (IDA), the World Bank’s concessionary lending arm, and have a 35-year maturity and 10-year grace period.
Out of the $1.05 billion, while $750 million would go to the Second Elementary Education Project, the rest would be for the second Technical/Engineering Education Quality Improvement Project (TEQIP).
“India has made significant progress in meeting its education goals, especially at the primary level,” according to the World Bank.
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