India Offered With $500 Million From World Bank

The World Bank has offered a $500 Million loan to India, in order to support the Secondary Education. The loan will be used to finance Rashtriya Madhayamik Shiksha Abhiyan (RMSA), a government initiative to promote secondary education in the country.

On Friday, Prabodh Saxena- the joint secretary in the finance ministry and Onno Ruhl, country director-World Bank had signed a loan agreement.

The finance ministry said "The main objective of the project is to help India to achieve increased and more equitable access to good quality secondary education through support of the government's ongoing programme for secretary education."

The project will help to achieve increased and more equitable access to good quality secondary education through support of the government's ongoing programme as delineated in the RMSA framework.

The statement said that "The Bank's support is being provided through a sector-wide approach, so there are no separate components, but this section describes the different types of activities which will be supported with the frame work".

The RMSA represents a systematic shift in the way secondary education is planned, managed and financed in India and it has a vision to make secondary education available, accessible and affordable to all young persons.