Sikkim INSPIRES: World Bank’s Support for Skill Development

The World Bank has approved a new project aimed at supporting the state of Sikkim in India. The project focuses on training, upskilling, and providing jobs for 300,500 women and youth in high-growth and priority sectors.

Sikkim INSPIRES: World Bank Assisted Programme Details

Objective:

• The project aims to train and upskill 300,500 women and youth in Sikkim for employment opportunities in high-growth sectors.

Target Sectors:

• Priority sectors include renewable energy, information technology (IT) services, tourism, hospitality and wellness care, and creative design.

Employment and Entrepreneurship Promotion Facility:

• A dedicated facility will be established to promote partnerships with private-sector firms, central agencies, and business associations.

Capacity Building:

• The project will provide staff trainings and build public procurement capacity across priority state departments.

Financing Mechanism:

• The project will utilize a blended financing instrument of Program-for-Results (PforR) with Investment Project Financing (IPF) to link disbursement of funds directly to the achievement of results while providing technical assistance.

Loan Details:

• The International Bank of Reconstruction and Development (IBRD) will provide a $100 million loan with a maturity of 14 years and a grace period of five and a half years.