2. News
  3. News Details

World Bank offers 500 million dollar loan for education in India

Posted On: 27/03/2012      Updated On:
The World Bank has offered $500 million interest-free credit to India for improving the standards of secondary education, an official statement said Friday. The World Bank on Thursday approved the credit that will help the Indian government's efforts to make good quality education "available, accessible and affordable to all young persons at the secondary level (grades 9 and 10)."

The project will support all activities as envisioned in the $12.9 billion Rashtriya Madhyamik Shiksha Abhiyan (RMSA) programme, a flagship government of India programme for gradual universalisation of secondary education, the World Bank said in a statement.

"This World Bank project will support the objectives and activities of RMSA. It will facilitate a whole set of mechanisms built around identifying what is needed to improve the quality of secondary education," said Venu Rajamony, joint secretary, economic affairs in India's finance ministry.

The project will be financed by a credit from the International Development Association (IDA) -- the World Bank's concessionary lending arm - which provides interest-free loans with 25 years to maturity and a grace period of five years.

The money will be used for setting up libraries, computer laboratories, upgrading primary schools in to secondary schools and providing training to teachers.

In addition, expansion, repair and renovation will take place in some 60,000 existing government secondary schools; some 44,000 upper primary schools will be upgraded into secondary schools; and about 11,000 new secondary and senior secondary schools will come up mainly in underserved areas.

Efforts will also be made to strengthen the role of local bodies in school management, which can, over time, lead to greater accountability and improved outcomes, the World Bank said.

"RMSA is a young programme which is expected to grow rapidly and hence it is an opportunity for the World Bank to support the government of India in building effective systems as the programme expands while improving quality," said Roberto Zagha, World Bank country director for India.

Zagha pointed out that a major concern in India these days was the issue of quality education.

"Mere improvement in access, if it is of differential quality, may not be conducive for inclusive growth. Recent international research confirms that improved quality - measured by cognitive skills - is important in determining future income and contribution to economic growth," he said.

"Hence the country needs all their young people to get good quality secondary education," Zagha added.

The World Bank's funded project is designed to meet critical needs in secondary education.

"First, to make sure that secondary education expands in such a way that quality and equity are enhanced at the same time; second, to develop and evaluate innovative approaches to secondary education; and, third, to leverage World Bank resources to help the government address systemic issues in the sector."
More News
UCEED 2027: Registration Dates, Eligibility, and Steps to Apply
Undergraduate Entrance Examination for Design (UCEED) 2027: Registration Dates, Eligibility, and Steps to Apply New Delhi: The Indian Institute of Technology (IIT) Bombay is gearing up to commence the registration process for the Undergraduate Commo...
Posted On: 21/09/2026
Read more
CPRI Registration 2026: Know Eligibility Criteria, Vacancy Details
CPRI Registration 2026: Online Window Opens for 110 Vacancies – Check Eligibility, Posts, and Key Details   New Delhi: The Central Power Research Institute (CPRI), an autonomous body under the Ministry of Power, Government of India, has ...
Posted On: 21/09/2026
Read more
AIIMS NORCET 11 Result 2026 Out
AIIMS NORCET 11 Result 2026 Out: Highlights, Scorecard, and Direct Steps to Check The All India Institute of Medical Sciences (AIIMS), New Delhi, officially announced the AIIMS NORCET 11 Result 2026 for the Stage 1 Preliminary examination. Candidate...
Posted On: 19/09/2026
Read more
AIAPGET Result 2026 Declared: Scorecards, Toppers List, and Counselling Details
AYUSH PG Entrance Test Result 2026 Declared: Scorecards, Toppers List, and Counselling Details New Delhi: The National Testing Agency (NTA) has officially released the results for the All India Ayush Post Graduate Entrance Test (AIAPGET) 2026. Candi...
Posted On: 19/09/2026
Read more
Maharashtra Board 2027 HSC, SSC Dates Out
Maharashtra Board 2027 HSC, SSC Dates Out: Exams From February 8 New Delhi: The Maharashtra State Board of Secondary and Higher Secondary Education (MSBSHSE) has officially announced the tentative dates for the Higher Secondary Certificate (HSC) Cla...
Posted On: 18/09/2026
Read more
AP EAMCET Final Seat Allotment 2026
AP EAMCET 2026 Final Phase Seat Allotment Released: Check College Allotments, Reporting Guidelines, and Next Steps AMARAVATI — The Andhra Pradesh State Council of Higher Education (APSCHE) has officially released the AP EAMCET 2026 Final Phase...
Posted On: 18/09/2026
Read more
CBSE Board Exam Schedule 2027: Class 10 and Class 12 Date Sheet Expected Soon
  NEW DELHI — The Central Board of Secondary Education (CBSE) is preparing to release the tentative examination schedule for Class 10 and Class 12 board exams for the 2026–27 academic session. Students, teachers, and school administ...
Posted On: 17/09/2026
Read more
UGC-NET To JEE: Testing Agency Releases Exam Calendar Up To March 2027
From UGC-NET To JEE: Testing Agency Releases Exam Calendar Up To March 2027 New Delhi: In a major relief and a step forward for academic transparency, the National Testing Agency (NTA) has officially released its examination calendar covering major ...
Posted On: 17/09/2026
Read more
UPSC NDA 2 Answer Key 2026
UPSC NDA 2 Answer Key 2026: Mathematics and General Ability Test PDFs to be Released Soon The Union Public Service Commission (UPSC) is set to release the official answer keys for the National Defence Academy and Naval Academy Examination (NDA 2) 20...
Posted On: 16/09/2026
Read more
NEET PG Answer Key 2026
NEET PG Answer Key 2026: NBEMS Provisional Response Sheets Released, Check Details Here NEW DELHI: The National Board of Examinations in Medical Sciences (NBEMS) is set to release the provisional answer key and candidates' NEET PG 2026 resp...
Posted On: 16/09/2026
Read more
View all

Top Universities/Colleges