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India and World Bank sign agreement to improve higher education in MP

| | Mar 02, 2016, at 08:26 pm
#India and World Bank # Madhya Pradesh Higher Education Quality Improvement Project
New Delhi, Mar 2 (IBNS) A financing agreement for IDA credit of US$ 300 million (equivalent) for the "Madhya Pradesh Higher Education Quality Improvement Project" was signed between India and the World Bank on Tuesday.
The financing agreement was signed by Raj Kumar (Joint Secretary, Department of Economic Affairs) on behalf of Government of India and Onno Ruhl, Country Director, World Bank (India) on behalf of the World Bank. 
 
The project agreement was also signed by K K Singh, Principal Secretary, Department of Higher Education, Government of Madhya Pradesh and Onno Ruhl, Country Director World Bank. 
 
The objective of the project is to improve student outcomes especially of disadvantaged groups in selected Higher Education Institutions (HEIs) and to increase the effectiveness of the Higher Education System in Madhya Pradesh. 
 
The project has three components (1) Grants Support to Higher Education Institutions (2) State Level Initiatives and (3) Improving System Management. 
 
The project has been designed as a result-based financing programme, implying that funds will be released based on the achievement of specific results or disbursement linked indicators (DLls). The DLls have been designed to ensure outcomes such as increase in enrolment of full time students, increase in transition rate, achievement of NAAC accreditation criteria by participating HEls, better transparency in the affairs of participating institutions and strengthening of governance structure 
 
The Project will end on Aug 31, 2021. 

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