The government of India has approved a project entailing World Bank assistance worth $1 billion to provide skill training to over 5 million people. Skill Training for Employability Leveraging Public Private Partnership (STEPPP) project was cleared by the Department of Economic Affairs, the Ministry of Skill Development and Entrepreneurship (MSDE) said in a release.
“The project will see a World Bank assistance of $1 billion and is expected to provide skill training to over 5 million people in addition to strengthening the skill training infrastructure in underserved geographies and sectors”, the release said.
Welcoming the partnership with the World Bank, Union Minister for Skill Development and Entrepreneurship Rajiv Pratap Rudy highlighted the importance for an integrated approach towards Skill India. “The target for skill development in India is huge and requires a partnered effort by the centre, states, industry, PSUs, and trainers. The association with the World Bank is of strategic importance to achieve the Prime Minister’s vision to make India the skill capital of the world”, said Rudy.
Prime Minister Narendra Modi had launched the National Skill Development Mission (NSDM) on July 15 this year. The skill training project aims to implement the mandate of the NSDM through its core sub-missions, among other objectives. The STEPPP project will be implemented in mission mode through World Bank support and is aligned with the overall objectives of the NSDM.