Pact Inked with World Bank for 119 Million USD for Odisha higher education project

New Delhi: A financing agreement for IBRD loan of US $ 119 million (equivalent) for the ‘Odisha Higher Education Programme for Excellence & Equity (OHEPEE) Project’ was signed with the World Bank here on Tuesday.

The financing agreement was signed by joint secretary, department of economic affairs, Sameer Kumar Khare, on behalf of government of India and acting country director, World Bank (India), Hisham A Abdo Kahin on behalf of the World Bank. A project agreement was also signed by additional chief secretary, department of higher education, government of Odisha, G V V Sarma, and acting country director, World Bank, Hisham A. Abdo Kahin.

The objective of the project is to improve the quality of ‘students’ equitable access to selected institutions and enhance governance of the higher education system in Odisha.

Project Component: result areas are (1) improved quality of and students’ equitable access to selected institutions of higher education : Institutional Development Plan (IDP) grants (performance –based financing (2) enhanced governance of the higher education system: (i) improvement of governance in colleges (ii) improvement of financial and procurement management and accounting in all government and government-aided colleges.

The closing date for the project is November 30, 2022.