Current Affairs

Govt. inks $150 Million loan agreement with ADB

Government has inked a US $150 million loan agreement with multilateral lender Asian Development Bank (ADB) for establishing India's first Global Skills Park in Bhopal, Madhya Pradesh.
Govt. inks $150 Million loan agreement with ADB
  • It will have training facilities focusing on skills for manufacturing, service and advanced agricultural jobs, benefitting about 20,000 trainees and trainers.

About the Global Skills Park (GSP):

  • It will be equipped with international training facilities to enhance the quality of Madhya Pradesh's Technical and Vocational Education and Training (TVET) system.
  • It will engage international TVET partners to support advanced training by bringing global best practices in TVET management, training infrastructure, industry cooperation and quality assurance.
  • The campus will consist of core Advanced Training Institutes including Center for Advanced Agricultural Training and Center for Occupational Skills Acquisition as well as other support services focusing on entrepreneurship, training of trainers and skill-related research.
  • It will also help in modernizing 10 industrial training institutes across the state by renovating training infrastructure and upgrading skills courses to align with industry and market needs.
  • It will improve the quality and relevance of state's TVET programs and will help impart advanced job-ready skills training of international standards.

Question:

Q. Government has inked a US $150 million loan agreement with which multilateral lender for establishing India's first Global Skills Park park in Bhopal, Madhya Pradesh?
a. European Development Bank (ADB)
b. Pacific Development Bank (ADB)
c. Asian Development Bank (ADB)
d. None of the above
Govt. inks $150 Million loan agreement with ADB Govt. inks $150 Million loan agreement with ADB Reviewed by Inderjeet Virdi on October 05, 2018 Rating: 5

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