Gujarat Govt to receive Rs 7,500 Cr Loan from World Bank, AIIB

The World Bank and the Asian Infrastructure Investment Bank (AIIB) stated that the Gujarat government’s Mission School of Excellence project, which aims to improve education quality in the state, will receive a loan worth Rs 7,500 crore. The state government will spend Rs 10,000 crore over the next five years on the Mission School of Excellence initiative, which would cover all 35,133 government and 5,847 grant-in-aid schools in the state.

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Key Points:

• In the state’s 41,000 government and grant-in-aid schools, the monies will be used to develop 50,000 new classrooms, 1.5 lakh smart classrooms, 20,000 new computer labs, and 5,000 tinkering labs.
• In the next few years, it is expected that almost one crore school pupils will directly benefit from this ambitious effort.
• The World Bank and the Asian Infrastructure Investment Bank have authorised a Rs 7,500 crore credit for the mammoth project.
• The World Bank sent a group to Gandhinagar to look at the School of Excellence project.

Important takeaways for all competitive exams:

• World Bank Headquarters: Washington, D.C., United States.
• World Bank Formation: July 1944.
• World Bank President: David Malpass.
• AIIB Headquarters: Beijing, China;
• AIIB Membership: 105 Members;
• AIIB Formation: 16 January 2016;
• AIIB Head: Jin Liqun.

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