Government of India has signed a $80 million (Rs 512 crore) loan agreement with Asian Development Bank (ADB) to help improve the skills of youth in Himachal Pradesh and modernizing Technical and Vocation Education and Training Institute (TVET).
This project of estimated cost of $100 million (Rs 640 crore) is expected to be completed by the end of 2022 and Himachal Government will get 90 per cent of the loan component as grant from the Government of India.
A spokesperson of the State Government on Saturday said that under this project, approximately 65,000 youth of the State will be given special trainings as per the standards of National Skills Qualifications Framework (NSQF).
“This project would go a long way in setting up basic institutionalised institutes at various levels in the State.
A polytechnic for women, six city livelihood centres and seven rural livelihood centres would be set up under it besides upgrading 10 employment exchanges as model career centres,” the spokesman said.
He said these efforts of State Government will help in creating awareness among youth about TVET programmers, modernisation of training equipments, implementation of MIS, enhance partnership with private sector and creating market oriented training and livelihood opportunities for the youth of Himachal Pradesh.
The funds would be made available for short and long term training programmes to the youth in automobile, electronics, pharmaceuticals, tourism and hospitality, banking and financial services and health etc. sectors under the project, he added.