India-World Bank ink Credit Agreement for MPHEQIP
Union Government, Madhya Pradesh government and the World Bank have signed $300 million credit agreement for Madhya Pradesh Higher Education Quality Improvement Project (MPHEQIP).
The credit will be provided by the International Development Association (IDA), World Bank’s concessionary lending arm with a maturity of 25 years, including a five-year grace period.
- MPHEQIP’s objective is to improve student outcomes especially of disadvantaged groups in selected Higher Education Institutions (HEIs).
- It also seeks to increase the effectiveness of the Higher Education System in Madhya Pradesh.
- The project comprises of three components viz. grants support to higher education institutions, improve system management and state level Initiatives.
- The main impetus MPHEQIP will be on helping government colleges and universities to use institutional grants effectively in improving the quality of higher education.
- It also seeks at providing equitable access to education for all and ensuring better capacity utilisation as well as including activities in education for making students more employable.