Agreement signed between India and World Bank for Nai Manzil project for minorities

India signed a financing agreement for IDA (International development association) credit of US$ 50 million (equivalent) for the “Nai Manzil- Education and Skills Training for Minorities” with the World Bank. The objective of the agreement is to help young people from minority communities complete their education and gain from market-driven training programmes with the aim of improving their employment outcome. Minority BPL (below poverty line) youth in the age group of 17-35 years will be the main beneficiaries of the project. The total project size is USD 100 million, out of which USD 50 million will be available as IDA credit, and the balance funding from the Union Budget. The closing date of the project is 31-10-2021.

-Ministry of Finance

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