World Bank has agreed to fund Rs 804 Crore assistance for development of higher education infrastructure in Odisha.
World Bank Country Director for India, Junaid Kamal Ahmed, has informed the State Government the proposed funding operation will be under two components such as Higher Education Program Component of 100 Million US Dollar and Technical Assistance Component of 19 Million US Dollar. So all get together it will be 119 Million US Dollar, which will be Rs 804 Crore.
Odisha government was asking over Rs 1000 Crore for Odisha Higher Education Program for Excellence and Equity (OHEPEE) from World Bank, as the funding under Centrally Sponsored Rashtriya Uchhatar Shikshya Abhiyan (RUSA) Program for improvement of Higher Education is not sufficient.
RUSA was started in 2014 by the UPA Government to improve quality of the State Universities and Colleges in the country. Under RUSA, Odisha was supposed to get over Rs 435 Crore for infrastructure development of 09 State Universities and 127 Government and Government Aided Colleges.
Sadly, funding under RUSA is slowing down with NDA Government at the Centre. So the Government of Odisha will be implementing OHEPEE for improving Students’ equitable access to Higher Education and Quality with World Bank support, said sources.
Mr Ahmed has said that OHEPEE will be the first support for Higher Education Sector by the World Bank in Odisha and will seek to support an overall Government Higher Education Program through a Result Based Financing Modality.
He said that the flow of funds will follow a Result-Based Financial Program.
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