Odisha Gets WB Loan

ACS Higher Education, G V V Sarma was happy to sign an agreement with the World Bank for development of Higher Education Sector in Odisha.

Mr.Sarma along with other senior officials signed financing agreement for IBRD loan worth US$ 119 million for “Odisha Higher Education Program for Excellence & Equity (OHEPEE) Project” was signed with World Bank here today.
Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs of the Government of India and Hisham A. Abdo Kahin, Acting Country Director, World Bank (India) signed the agreement.
The Project agreement was also signed by Mr.Sarma, Additional Chief Secretary, Department of Higher Education, Government of Odisha and Mr.Kahin, Acting Country Director, World Bank.
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.
And this will be the first support for Higher Education Sector by the World Bank in Odisha and will seek to support an overall Government Higher Education Program through a Result Based Financing Modality.

State Government was asking over Rs.1020 Crore for Odisha Higher Education Program for Excellence and Equity  from World Bank, as the funding under Centrally Sponsored Rashtriya Uchhatar Shikshya Abhiyan (RUSA) Program for improvement of Higher Education was not sufficient.
So the Government of Odisha will be implementing OHEPEE for improving Students’ equitable access to Higher Education and Quality with World Bank support, said sources.
Secondly the move is to improve the Governance and Management of Higher Education Sector in the State.
Thirdly the Program will endeavor to improve the financial management and accounting system in the colleges.
The State Government will establish Institutional Developmental Plan (IDP) and Capacity Building Steering Committee, which will be responsible for carrying out hands-on training and capacity building to support the Colleges in drafting their IDP.
World Bank Mission was happy over the performance of the Government of odisha when they visited the State, Mr.Sarma and senior officials of the State Government extended full-fledged cooperation to the visiting Mission.
In fact Mr.Sarma had taken lot of initiative to coordinate the entire efforts to help out the Universities and Colleges to improve their infrastructural and educational standards though the World Bank lending.

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