New Delhi– The Indian government on Wednesday said that it has entered into a “financing agreement” with World Bank for $125 million to fund a skill development programme.

According to the Ministry of Finance, the agreement for IDA (International Development Association) credit equvilant to $125 million was entered on Tuesday and will be utilised for the “Skills Strengthening for Industrial Value Enhancement Operation (STRIVE) Project” which closes on November 30, 2022.

“The Objective of the operation is to improve access to quality and market-driven vocational training provided in it is and apprenticeships,” the Ministry 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…” (IANS)