The World Bank will be providing India with millions of dollars in credit to help boost the country’s vision for quality secondary education.
The International Development Association, the bank’s concessionary lending arm, will provide India a $500 million credit for its Secondary Education Project. IDA provides interest-free loans with a 25-year maturity and a five-year grace period.
The project aims to improve the quality of secondary education in India and address employment demands in the country. Skill-based services, such as information technology and telecommunications, are currently in demand at the country. These, however, require applicants to have secondary education at a minimum.
The funding will be used to help the government build effective education systems. It will help expand, repair and renovate some 60,000 existing government secondary schools, upgrade 44,000 upper primary schools to secondary schools and build 11,000 new secondary and senior secondary schools in underserved areas.
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