Meghalaya: World Bank Sanctions $35 Million For Various Sectors' Development.

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• Jan 9, 2025 | Kabita Pathak

World Bank has given fund of $9.3 billion for creating employment opportunities for the youth and women across the world…

Digital Desk: The World Bank has sanctioned a $ 35 million projects in Meghalaya for Multisectoral Projects for Adolescent Wellbeing, Empowerment, and Resilience (MPOWER) to provide with aid for the more than 5 lakh adolescents in Meghalaya. This step targets four key areas of education, health, and human skills development to help overcome the problem of poor learning attainment, high levels of school dropouts, and inadequate preparedness of young people for the job market.

The younger population of adolescents of Meghalaya is 24.47% GS, which can easily be distorted reckoning the high dropout ratios of upper primary 11% and secondary 22% beyond the national average. Other problems incorporate substance use, early marriage as well as teenage pregnancies. This initiative aims to address these challenges through the improvement of learning achievement of students in the grades 6 to 12 concerning their reading and mathematics competence, life competencies, mental health literacy, and career readiness.

The main emphasis will be placed on students who have left educational institutions aged between (6-12) and who will be offered appropriate assistance. It partners with the Meghalaya State Skills Development Society to provide skills for enterprise to out of school adolescents and aspiring entrepreneurs. All the programs including   learning models such as mentoring, web-based applications, and community clubs will also engage parents and students in the development of various forums. Moreover, beneficiaries will be educated on issues to do with sexual and reproductive health in order to eradicate cases of teenage pregnancies and encourage school completion.

The project allows for borrowing from Jharkhand state or even Tanzania and Bangladesh in terms of successful models that have demonstrated reductions of dropouts and improved youth’s engagement. The plan will help education holders among adolescents to get better opportunities for quality jobs, said Auguste Tano Kouamé, Country Director, World Bank India.

This loan which stands at $35 million variable spread loan is from the International Bank of Reconstruction and Development (IBRD) and has a maturity period of 15 years the grace period of 5 years.  As per report, World Bank has dedicated fund of $9.3 billion for creating employment opportunities for the youthful people and women across the world.