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World Bank to give $500 mn loan to secondary education scheme

World Bank to give $500 mn loan to secondary education scheme
PTI
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First Published: Tue, Oct 06 2009. 06 12 PM IST
Updated: Tue, Oct 06 2009. 06 12 PM IST
New Delhi: The World Bank will provide $500 million as soft loan to newly-launched Rashtriya Madhyamik Shiksha Abhiyan (RMSA) scheme for improvement of the quality of secondary education in the country and check drop-out rate.
“World Bank will provide $500 million as soft loan for the RMSA scheme. Now, we will identify the areas of involvement. Besides, the World Bank will share its experience on secondary education system across the globe,” Sam Clarison, lead education specialist, South Asia Human Development Sector of the World Bank, told reporters here on Tuesday.
Earlier, the World Bank had evinced interest in being involved in the scheme. The HRD Ministry had accepted to the proposal and written to the Department of Economic Affairs (DEA) for further action.
Clarison said the money will be given with zero interest rate for 35 years.
The Bank at present also supports the government’s flagship programme, Sarva Shiksha Abhiyan (SSA), which aims at universalization of elementary education.
The Bank has taken interest in RMSA keeping in view the objective of the programme to check drop-out rate at secondary level completely by 2020.
The scheme also aims at achieving a general enrolment target of 75% for classes IX-X within five years from 52.26% by providing secondary school within a reasonable distance of every habitation.
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First Published: Tue, Oct 06 2009. 06 12 PM IST