The World Bank has signed an agreement with the government to provide USD 201.50 million loan for quality engineering education across several states in India.
The loan agreement is part of the Technical Education Quality Improvement Project (TEQIP III), which is the third phase of a 15-20 year programme that started in 2002.
TEQIP III has supported 250 engineering institutes.
TEQIP III will support affiliating technical universities for the first time, multiplying benefits to all affiliated colleges and not just those being supported individually.
The Washington-based funding agency has estimated that nearly 30 lakh under-graduates and post-graduates will benefit from it.
Some 30 per cent of this will likely be females and 20 per cent from scheduled castes and tribes, the World Bank said.
The agreement was inked between Raj Kumar, Joint Secretary, Finance Ministry, and Junaid Ahmad, Country Director, World Bank India.
In the latest phase, TEQIP will impart skill training to labour market entrants more equitably across the country by focusing on states with under-performing engineering education set-up.
Source: Times of India