World Bank, the multilateral lending agency, and the government of India on Friday signed a loan agreement worth USD 500 million for Rashtriya Madhyamik Shiksha Abhiyan (RMSA) in the country.
“An agreement between Government of India and the World Bank for loan of USD 500 million (equivalent) from World Bank for the Rashtriya Madhyamik Shiksha Abhiyan (RMSA) was signed,” an official statement said.
The project will help to achieve increased and more equitable access to good quality secondary education through support of the government’s ongoing programme for secondary education as delineated in the RMSA framework, it said.
The agreeement was signed by Prabodh Saxena, joint secretary, department of economic affairs and Onno Ruhl, country director, World Bank, among others.
“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 Framework,” the statement said.
RMSA represents a systemic 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, it added.