As per news, supports the Sarva shiksha Abhiyan of $ 1,600.2 million via its lending arm the International Development Association (IDA). For this, they have entered in an agreement with the government of India. The agreement will come into effect from August 27.
The IDA credit will be effective from August 27, 2014 till September 30, 2017, Human Resource Development Minister Smriti Irani said in a written reply to the Lok Sabha.
The project is likely to benefit about 200 million children enrolled in elementary schools and 4.5 million teachers in the sector.
- Under the agreement, which intends to improve India’s elementary education outcomes, the credit will be available in two portions.
- Funding from the World Bank will form a part of the central share of funds under the SSA and will constitute only 3.37 per cent of the total central funding for SSA.
- The funding of states under the SSA will continue on extent terms centre-state sharing – 65:35 for all states except the northeastern states where it is 90:10.
Irani says that because the funds come for SSA, all the government schools and colleges will benefit under the programme.