By ANTARA News,
Mumbai : The World Bank said its concessionary lending arm, the International Development Association, will provide $600 million credit to support the Indian government’s ongoing Sarva Shiksha Abhiyan (SSA), an education program designed to provide all children aged 6 to 14 with education of satisfactory quality.
The Second Elementary Education Project (SSA II) is the second phase of support by the development partners to the SSA program. It focuses on moving towards the achievement of quality goals and improved learning outcomes, the lending agency told Thomson Financial.
The total cost of SSA II is estimated at $10.7 billion, of which the states of India will contribute close to 36.9 percent, the Indian government will contribute around 53.7 percent and the development partners will provide 9.4 percent.
The credit has 35 years to maturity and a 10-year grace period, the World Bank said.