To Fund Education of Minorities, Union Inks Financing Agreement with World Bank

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For Nai Manzil Scheme- Education and Skills Training for Minorities, Union Government has signed a Financing Agreement of 50 million dollars with the World Bank. According to this agreement the credit will be facilitated by the International Development Association (IDA) , World Bank՚s concessionary lending arm which will be in the form of loan.

  • The loan carries a maturity of 25 years with including a 5-year grace period.
  • The loans funds will be used to improve the employability and performance of minority youth in the labour market.
  • The estimated project size is 100 million dollars.
  • As IDA credit 50 million dollars will be available and the remaining balance funding from the Union Budget.

About Nai Manzil Scheme

  • The main aim behind designing of this schema to address educational and living needs of minority communities lagging behind in terms of educational attainments.
  • The objective of this scheme is to It aims to provide educational intervention by giving the bridge courses to the trainees and giving them Certificates for Class XII and X from distance medium educational system.

It aims to provide job basis skill training in four courses at the same time of formal education, in field of

  • Manufacturing
  • Engineering
  • Services
  • Soft skills.

It proposes to provide education and job to people in between 17 to 35 age group from all minority communities as well as Madrasa students.

  • With this they will path for minorities for continuing higher education and also open up employment opportunities in the organized sector.

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