The government of India, the government of Madhya Pradesh and the World Bank (WB) signed a $300 million credit agreement for the ‘Madhya Pradesh (MP) Higher Education Quality Improvement Project’ to help increase the overall effectiveness of the higher education system in MP.
The agreement was signed by Raj Kumar, Joint Secretary, Department of Economic Affairs; K.K. Singh, Principal Secretary, Department of Higher Education, on behalf of the government of MP; and Onno Ruhl, WB Country Director.
Singh said: “The project will support the implementation of the Government of Madhya Pradesh’s vision for the higher education sector and focus on improving the quality of learning, employability and research in higher education institutions in Madhya Pradesh.”
Ruhl said: “By focusing on good quality education for higher learning, extending scholarships to disadvantaged students, and improving resources available for teaching, learning and research, we hope the project will help produce a labour force that has the required skills and knowledge to boost the state’s economy and lift many out of poverty.”
The credit is from the International Development Association (IDA), the World Bank’s concessionary lending arm with a maturity of 25 years, including a five-year grace period.
, World Bank
, Madhya Pradesh