Business News | ADB Approves USD 182.89 Million Loan to Boost Karnataka's Public Schools, Establish 500 Clusters
Get latest articles and stories on Business at LatestLY. The Asian Development Bank (ADB) has approved a USD 182.89 million (in yen equivalent) loan to strengthen the public school system in Karnataka establishing 500 integrated public schools, according to a statement by the lender.
New Delhi [India], July 2 (ANI): The Asian Development Bank (ADB) has approved a USD 182.89 million (in yen equivalent) loan to strengthen the public school system in Karnataka, establishing 500 integrated public schools, according to a statement by the lender.
The multilateral development bank announced on Wednesday it has approved the loan under the Strengthening Karnataka Public Schools Program that will establish 500 integrated public school clusters across the state, offering education from pre-primary to secondary levels.
"It will strengthen teacher competencies, curriculum and assessment systems, school governance and management systems, and science, technology, engineering, arts, and mathematics (STEAM) learning," it said.
The programme is financed through ADB's results-based lending mechanism and aligned with the Karnataka government's education reforms and the National Education Policy (NEP) 2020.
Noting Karnataka as a fast-growing state in South India, the lender highlighted the state has one of the country's youngest populations, with 70 per cent in the 15-64 working-age group. However, only 48.3 per cent complete secondary education, and nearly 30 per cent of the youth lack skills needed for higher education or employment, the lender noted.
According to the lender, these challenges could limit Karnataka's ability to fully leverage its demographic dividend and achieve its ambition of emerging as a global technology hub.
As per the release, the programme will introduce industry-aligned skills modules and integrate principles of social inclusion and the protection of women and girls into the life skills curriculum to prepare students for higher education and future employment opportunities.
Furthermore, the lender's financing will be supplemented by a USD 10 million grant and a USD 25 million guarantee from the International Finance Facility for Education (IFFEd), as per the release.
ADB Country Director for India Mio Oka said, "The programme will help Karnataka build future-ready public schools, especially in underserved areas that give students stronger foundations, better learning opportunities, and clearer pathways to jobs and higher education." (ANI).
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)