26-Jul-2021: India Signs Financing Agreement with World Bank for US$ 201.50 Million for “Third Technical Education Quality Improvement Programme (TEQIP III)”
Technical Education Quality Improvement Programme (TEQIP) phase-III, initiated by the Ministry of Education, Govt. of India with assistance from the World Bank to improve the quality of engineering education since 1st April 2017, is going to conclude on 30th September 2021.
A token amount of Rs. 10 crore has been provided for “Multidisciplinary Education Research Improvement in Technical Education (MERITE)” in the recent budget 2021-22 to start preparatory works.
The Government of India has been making continuous efforts to ensure that the focus State Governments prepare a sustainability plan for the Technical Education Quality Improvement Programme (TEQIP-III), so as to avoid any academic standstill beyond the project period i.e. 30thSeptember 2021. Ministry of Education has written to the Chief Secretaries of Focus States requesting to plan for continuation of activities undertaken during TEQIP-III, for maintaining the quality of technical education.
2-Feb-2017: India Signs Financing Agreement with World Bank for US$ 201.50 Million for “Third Technical Education Quality Improvement Programme (TEQIP III)”
A Financing Agreement for IDA credit of US$201.50 million (equivalent) for the “Third Technical Education Quality Improvement Programme (TEQIP III)” was signed with the World Bank here yesterday. The Financing Agreement was signed by Mr. Raj Kumar (Joint Secretary, Department of Economic Affairs) on behalf of Government of India and Mr. Junaid Kamal Ahmad, Country Director, World Bank (India) on behalf of the World Bank.
The objective of the Program is to enhance quality and equity in participating Engineering Education Institutes and improve the efficiency of the Engineering Education System in Uttarakhand, Himachal Pradesh, Bihar, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Rajasthan, 8 North Eastern States and Andaman & Nicobar Islands. The Project has two main components, (i) Improving quality and equity in engineering institutes in those states; and (ii) System-level initiatives to strengthen sector governance and performance. The project has been designed as a disbursement linked one, that is, the World Bank loan will be disbursed on achievement of specific outcomes.
The closing date of TEQIP III is 31st March, 2022.