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India has signed an Agreement for IDA credit of US$201.50 million for the “Third Technical Education Quality Improvement Programme” (TEQIP III) on February 1, 2017 in New Delhi.
The loan agreement envisages an active funding participation in Indian Engineering Education Institutes and improve the efficiency of the Engineering Education System in Uttarakhand, Himachal Pradesh, Bihar, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Rajasthan, 8 North Eastern States and Andaman & Nicobar Islands.
The Project seeks to improve quality and equity in engineering institutes in these states and to undertake system-level initiatives to strengthen sector governance and performance.
The World Bank loan, to be implemented till March 2022, will be disbursed based on achievement of specific outcomes and goals by these institutions, said a World Bank statement.
Mr. Raj Kumar, Joint Secretary, Department of Economic Affairs signed the agreement on behalf of the Government of India and Mr. Junaid Kamal Ahmad, Country Director for World Bank, on behalf of the World Bank.
“The focus on strengthening engineering education and research under TEQIP III will help prospective labor market entrants acquire the skills needed to produce a world-class technical workforce,” said Junaid Ahmad, World Bank Country Director in India.
TEQIP III will intensify its efforts in the focus states with the support from the IITs, IIMs and other high-performing institutes across the country. “As with previous phases of TEQIP, the country’s top institutes will mentor TEQIP colleges and help them develop their curriculum, faculty and students”, said R. Subrahmanyam, Additional Secretary, Department of Technical Education, Ministry of Human Resources Development, the implementing agency for the project.
