Question: India signed a financing agreement for US$201.50 million for the “Third Technical Education Quality Improvement Programme” with which of the following international organization?
(a) World Bank.
(b) Asian Development Bank
(c) Asian Infrastructure Investment Bank
(d) European Investment Bank
Ans: (a)
Related Fact :
- On 1st February, 2017 India signed a financing agreement for US$201.50 million (equivalent) for the “Third Technical Education Quality Improvement Programme” with the World Bank.
- The World Bank Board has already approved the US$ 201.50 million Technical Education Quality Improvement Project to enhance the quality and equity of engineering education across several focus states in India on 24 June 2016.
- The Financing Agreement was signed by Mr. Raj Kumar (Joint Secretary, Department of Economic Affairs) on behalf of Government of India and Mr. Junaid Kamal Ahmad, Country Director, World Bank (India) on behalf of the World Bank.
- The objective of the Program is to enhance quality and equity in participating Engineering Education Institutes and improve the efficiency of the Engineering Education System in Uttarakhand, Himachal Pradesh, Bihar, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Rajasthan, 8 North Eastern States and Andaman & Nicobar Islands.
- The Project has two main components:
(i) Improving quality and equity in engineering institutes in those states
(ii) System-level initiatives to strengthen sector governance and performance.
What is TEQIP III
This is the third phase of an envisioned 15-year phased program initiated with the first phase of TEQIP from 2002 to 2009. TEQIP III builds on the significant results achieved in the two phases of the project which supported over 250 engineering institutes and thousands of faculty members from institutes such as NIT Rourkela, College of Engineering Pune, Jawaharlal Nehru Technological University Hyderabad, and BIT Mesra. It has made a considerable impact on the quality of education by implementing institutional and policy reforms focusing on institutional autonomy and accountability. The project will support approximately 200 engineering education institutes in the focus states to produce higher quality and more employable engineers.
Reference:
http://www.worldbank.org/en/news/press-release/2016/06/24/world-bank-approves-us-20150-million-for-improving-the-quality-of-engineering-education-in-select-indian-states
http://pib.nic.in/newsite/PrintRelease.aspx?relid=157904