The Asian Development Bank (ADB) said it will provide a USD 85 million loan to improve skill development eco-system in Odisha and establish an advanced skill training centre at Bhubaneswar.
The project will help over 1.5 lakh people learn skills in priority sectors, including manufacturing, construction and services for formal employment, ADB said in a release.
World Skill Centre (WSC) at Bhubaneswar will deliver eight training courses for 13,000 full-time students, provide training for 5,000 teachers, and train 1,000 assessors.
It will improve the overall eco-system of skill development in Odisha by providing integrated services through an entrepreneurship incubation centre, a career counselling and placement centre, a curriculum design and development centre, and education technology deployment centre, it said.
"These important functions of WSC will support a network of Government ITIs and develop skills and capacity of polytechnics, college of engineering, and other private skilling centres," it added.
ADB will also administer a USD 2 million technical assistance grant from the Japan Fund for Poverty Reduction, financed by the Government of Japan, that will support capacity development activities under the project.
In 2017, ADB operations totalled USD 32.2 billion, including USD 11.9 billion in co-financing.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app