Odisha govt signs loan agreement with ADB for skill development

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

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

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

The project will help over 1.5 lakh people learn skills in priority sectors, including manufacturing, construction and services for formal employment.

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.

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

ADB will also help with a USD 2 million for technical assistance for capacity building component of the project.

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

World Skill Centre will deliver eight training courses for 13,000 full-time students, provide training for 5,000 teachers, and train 1,000 assessors.