WB to lend $74 mn for workforce training in Uttarakhand

India on Tuesday signed a $74 million loan agreement with the World Bank for the Uttarakhand Workforce Development Project.

The project aims to improve the quality and relevance of training at priority Industrial Training Institutes (ITIs) and to increase the number of workers relevant to the labor market through short-term training in the state, an official statement said.

"A total of 25 ITIs have been selected -- 13 in district centers and 12 that are well-linked to industries. Two of the four women ITIs in the state will be included in the list," it added.

The project, supposed to end in June 2023, has a five-year grace period and a maturity of 17 years, the government said.