World Bank Provides Loans of $125 Million for STRIVE Project

The World Bank has committed $125 million (around Rs800 crore) loan to India for the STRIVE project for skill development.

The objective of the operation (Skills Strengthening for Industrial Value Enhancement) is to improve access to quality and market-driven vocational training as well as apprenticeships. The financing agreement was signed between the World Bank and the Finance Ministry.
Static/Current Takeaways Important for RBI Assistant Mains 2017 Exam-
  1. IBRD- International Bank for Reconstruction and Development.
  2. World Bank President- Jim Yong Kim (12th), Headquarters- Washington DC, USA.
Source- The Hindu Business Line