JP Morgan commits $10m to World Bank's skilling programme

Wall Street major JP Morgan on Monday announced a USD 10-million commitment to a new World Bank multi-donor trust fund focused on skilling the youth in the country. The investment is part of the American investment bank's USD 25 million, five-year commitment to help low- and middle-income communities here develop the skillsets, a statement said, adding the program is aimed at improving access to quality and market-relevant training for youth in select states.

"Children who are in primary schools today are likely to work in jobs that do not even exist now. To prepare them for a fundamentally altered world of work is going to be a critical policy decision countries can make to secure the future of their citizens," World Bank country director for India Junaid Ahmad in the statement. The program will support innovative models in curriculum development, provide appropriate training for teachers as well as career counselling for students, foster inclusion of the marginalized communities, and reduce gender gaps in skilling, it said.

The pilot projects will be launched in Maharashtra and Rajasthan, the statement added.