ADB to give $100 million loan for skill development programme in Meghalaya

The project is Asian Development Bank's first loan in India focusing on boosting education and skills.

New Delhi | Published: January 25, 2014 4:09:05 am

The Asian Development Bank (ADB) has announced that it will provide $100 million loan for vocational and educational training to youths in Meghalaya.

“The ADB and the Government of India signed an agreement for a $100 million loan for Meghalaya, aimed at enhancing the employability of the state’s youth through improvements in secondary education and vocational skills training programmes,” ADB said in a statement.

The project — Supporting Human Capital Development in Meghalaya — is ADB’s first loan in India focusing on boosting education and skills, it said. ADB said a technical assistance grant of additional $2 million by Japan Fund for Poverty Reduction will also be associated with this loan to strengthen the capacity of civil society organisations and related state government departments.

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