$100 Million Loan Signed by India to Support Kerala employability Scheme

India has signed a loan of amount 100 million dollars from Asian Development Bank to support the Kerala initiative to increase employability of higher secondary and undergraduate students, an official statement said here Friday.

Nearly 235,000 needy students in Kerala will benefit under the program during 2014-18.

“This $100 million loan for supporting Kerala’s Additional Skill Acquisition Program (ASAP) is the first Results Based Lending (RBL) facility from ADB in India,” the statement said.

A capacity building technical assistance of $1.5 million, financed by the Japan Fund for Poverty Reduction, was also signed on this occasion.M. Teresa Kho, country director, Asian Development Bank, said by offering 180 hours of foundation training in communication English and basic IT, and 120-520 hours of vocational training to high school and undergraduate students, after class and during vacations, ASAP will make them “market ready” by the time they graduate.

Src- http://www.business-standard.com/article/news-ians/india-signs-100-mn-adb-loan-to-support-kerala-scheme-114112800791_1.html

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