$150 Million Loan receive by India For First Skill Park - TNBCLive

New Delhi: A loan agreement of $150 Million has been signed by India with Asian Development Bank (ADB) to establish the country’s first multi-skills park in Madhya Pradesh to create a more skilled worker, an official revealed. The official also said that “the campus will have training facilities focusing on skills for manufacturing, service and advanced agricultural jobs, benefitting about 20,000 trainees and trainers”.

The park that will set in Bhopal is GLobal Skills Park (GSP) it will help to enhance the quality of Technical, and in the state, Madhya Pradesh Vocational Education and Training (TVET) is going to start.

According to the Minister of Finance statement it noted that the campus will core of Advanced Training Institutes including the Centre for Occupational Skills Acquisition and the Centre for Advanced Agricultural Training, and other brace services focusing on entrepreneurship, training of trainers and skill-related research.  

In a further statement, it added that for modernizing the project will also help industrial training institutes across the state by renovating infrastructure and upgrading skills course to align with industry and market needs.

The loan agreement was signed by Ministry Of Finance Additional Secretary Sameer Kumar Khare for the Indian government and ADB India Resident Mission Country Director Kenichi Yokoyama for the multilateral lending agency.

After the agreement was signed Mr. Khare revealed that the new skills and technical projects help to improve the quality and relevance of the state’s TVET programs and will help impart advanced job-ready skills training of international standards.

In a meanwhile, Yokoyama revealed that the project will engage international TVET partners to support advanced training at the GSP who will bring global best practices in TVET management, training infrastructure, industry cooperation and quality assurance.  

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