India Signs Financing Loan Agreement With World Bank For UKWDP

A Loan Agreement for IBRD Credit of US$74 million equivalent for the Uttrakhand Workforce Development Project (UKWDP) was signed between India and the World Bank. The Project objective is to improve the quality and relevance of training at priority Industrial Training Institutes (ITIs) and to increase the number of labor-market-relevant workers through short-term training in Uttrakhand. The Project has a 5-year grace period and a maturity of 17 years. 
The Project has three components:
1. Improving the quality and relevance of ITI Training; 
2. Increasing the number of skilled workers certified under National Skills Qualification Framework (NSQE) – Compliant Short Term Training; and 
3. Policy and Institutional Development and Project Management. 
Source- Press Information Bureau (PIB)

Static/Current Takeaways Important for RRB PO Mains Exam 2018- 
  • Sameer Kumar Khare is the Joint Secretary in the Ministry of Finance. 
  • President of the World Bank- Jim Yong Kim. 
  • Headquarters of World Bank- Washington, DC.