BHUBANESWAR: THE World Bank on Tuesday signed a loan agreement of $119 million with the Centre for Odisha Higher Education Programme for Excellence and Equity Project, which will support the State in improving the quality, equity and governance of higher education institutions.
The agreement for the project was signed between Union Joint Secretary of Department of Economic Affairs Sameer Kumar Khare and Secretary of State Higher Education Department GVV Sharma and Acting Country Director of World Bank-India Hisham Abdo.
Khare said since promoting education in every sphere is a priority for the Government, this project seeks to provide that opportunity for young people in Odisha. Students and young people from all backgrounds, including Scheduled Tribes and other disadvantaged groups, will have access to quality higher education, he said.
Government, Government-aided and block grant colleges that have an accreditation from the National Assessment and Accreditation Council (NAAC) are eligible to apply for grants under the project. They will have to submit their Institutional Development Plan (IDP), which will be evaluated by a committee comprising eminent academics from inside and outside the State.
While first round of selection has already begun and the committee has selected 70 colleges and six State universities based on their IDPs, 70 more will be selected in the second round which will commence after 12 to 18 months.
The rest 660 colleges that do not receive the institutional grant will directly benefit from a faculty development programme and the anticipated governance reforms. Around 6.3 lakh students pursuing higher education and about 21,000 faculty staff and 11,000 administrative staff in the colleges and universities will benefit from the project.
The grants will assist affiliated colleges in achieving autonomous status, improve the examination system, establish support centres in tribal-dominated districts and help modernise university and college infrastructure. Short-term trainings for faculty, online student feedback system on faculty performance and certain skill development courses will also be undertaken at the State-level to improve quality of teaching and learning.
Abdo said the project will help Odisha expand the opportunities for students aspiring for quality higher education and help them become readily employable in the labour market. The $119 million loan from the International Bank for Reconstruction and Development (IBRD) has a 5.5-year grace period and a maturity of 18 years.