World Bank provides loans of $125 mn for STRIVE project

New Delhi, Dec 20 (PTI): World Bank has committed $125 million (around Rs 800 crore) loan to India for the STRIVE project for skill development. The objective of the operation (‘Skills Strengthening for Industrial Value Enhancement) is to improve access to quality and market-driven vocational training as well as apprenticeships, the finance ministry said in a statement issued today. The financing agreement was signed between the World Bank and the finance ministry yesterday, it said. “The result areas for the project include improved performance of industrial training institutes; increased capacities of state governments to support industrial training institutes and apprenticeship training; improved teaching and learning; and improved and broadened apprenticeship training,” it added.