A Financing Agreement with the IDA (International Development Assistance) for a credit of US$ 50 million (equivalent) for the ‘Nai Manzil- Education and Skills Training for Minorities’was signed in New Delhi, on January 1, 2016. The Financing Agreement was signed by Department of Economic Affair (DEA) on behalf of the Government of India and by Michael Haney, World Bank’s Operations Adviser in India on behalf of the International Development Assistance (IDA). Representatives from the Ministry of Minority Affairs and officials from the World Bank were also present.
Nai Manzil-Education and Skills training for Minorities scheme was launched on August 8, 2015 by the Union Ministry of Minority Affairs. The total project size is USD 100 million, out of which USD 50 million will be available as IDA credit, and the balance funding from the Union Budget. The project takes an integrated and holistic approach towards education and skill development of youth belonging to minority communities like the Muslims, Christians and other linguistic minorities. The project is aimed to address the high dropout and unemployment rate among the minority population. Minority BPL (below poverty line) youth in the age group of 17-35 years will be the main beneficiaries of the project. Improvement in the education attainment of the minority youth in the project area and improvement in their employability skills are among the expected outcomes of the project. The project will follow result based financing modality, and project funds will be disbursed on achievement of specific results such as number of student enrolled, number of students successfully completing education and skill components etc. The closing date of the project is October 31, 2021.
Blog » India signed financing agreement with IDA for Nai Manzil- Education and Skills Training for Minorities
India signed financing agreement with IDA for Nai Manzil- Education and Skills Training for Minorities
A Financing Agreement with the IDA (International Development Assistance) for a credit of US$ 50 million (equivalent) for the ‘Nai Manzil- Education and Skills Training for Minorities’ was signed in New Delhi, on January 1, 2016. The Financing Agreement was signed by Department of Economic Affair (DEA) on behalf of the Government of India and by Michael Haney, World Bank’s Operations Adviser in India on behalf of the International Development Assistance (IDA). Representatives from the Ministry of Minority Affairs and officials from the World Bank were also present.
Nai Manzil-Education and Skills training for Minorities scheme was launched on August 8, 2015 by the Union Ministry of Minority Affairs. The total project size is USD 100 million, out of which USD 50 million will be available as IDA credit, and the balance funding from the Union Budget. The project takes an integrated and holistic approach towards education and skill development of youth belonging to minority communities like the Muslims, Christians and other linguistic minorities. The project is aimed to address the high dropout and unemployment rate among the minority population. Minority BPL (below poverty line) youth in the age group of 17-35 years will be the main beneficiaries of the project. Improvement in the education attainment of the minority youth in the project area and improvement in their employability skills are among the expected outcomes of the project. The project will follow result based financing modality, and project funds will be disbursed on achievement of specific results such as number of student enrolled, number of students successfully completing education and skill components etc. The closing date of the project is October 31, 2021.
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