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Odisha Govt signs agreement with ADB for Skill Development

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Bhubaneswar: The Government of Odisha on Monday signed a loan agreement with Asian Development Bank (ADB) for USD 85 million to train 1.5 Lakh youngsters in Odisha.

The project aims to significantly reduce unemployment and underemployment rates in the state by 2025.

With this assistance,  youths  in  the  age  group  of  15-34  years  will  be  given  skill  development training to make them competent to get better work and higher paying jobs.

Total cost of the project is USD 193 million with the Odisha government contributing USD 108 million.

Under  the  Project,  Odisha  Skill  Development  Authority  and  ITE  Education  Services, Singapore  will  cooperate  in  the  establishment  and  operation  of  World  Skills  Centre (WSC) in Bhubaneswar.

The Manila-headquartered multi-lateral funding  agency  will  also  help  with  a  USD  2  million  technical  assistance  for  capacity building component of the project.

In  addition,  the  Japanese  government  will  provide  technical  aid  for  capacity  building through the Japan Fund for Poverty Reduction.

The  project  will  help  provide  more  equitable  access  to  skill development   programmes,   improve   quality   and   relevance   of   skills   development, strengthen  state’s  skill  environment  through  knowledge  partnerships  and  improve institutional capacity.

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