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March 23rd, 2012
World Bank offers $500 million for education in India

Washington: The World Bank has offered $500 million interest-free credit to India for improving the standards of secondary education, as per an official statement.
The World Bank 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.