By TIOL News Service

NEW DELHI, SEPT 18, 2018: A Loan Agreement for IBRD Credit of USD 74 mn equivalent for the Uttrakhand Workforce Development Project (UKWDP) was signed with the World Bank on Tuesday. The Loan Agreement was signed by Mr. Sameer Kumar Khare , Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Govt of India and Mr. Jorge Coarasa , Acting Country Director, World Bank (India) on behalf of the World Bank.  A Project Agreement was also signed by Dr. Iqbal Ahmed, Additional Secretary, Skill Development and Employment, Govt of Uttrakhand and Mr. Jorge Coarasa , Acting Country Director, World Bank.

The Project objective is to improve the quality and relevance of training at priority Industrial Training Institutes (ITIs) and to increase the number of labor-market-relevant workers through short term training in Uttrakhand.  The Project has three components: (1) Improving the quality and relevance of ITI Training; (2) Increasing the number of skilled workers certified under National Skills Qualification Framework (NSQE) - Compliant Short Term Training; and (3) Policy and Institutional Development and Project Management.

Twenty-five ITI's have been selected – 13 located in District Centers and 12 ITI's that are well-linked to industries. Two out of four women's ITIs in the State would be included in the list. The Project has a 5-year grace period, and a maturity of 17 years. The closing date for the Project is June 30, 2023.