The Department of Economic Affairs of the Union Ministry of Education, and the World Bank have signed the STARS (Strengthening Teaching-Learning and Results for States Program) project on 28 January 2021. The project is a financial support agreement.
The STARS Project
- It is a centrally sponsored scheme that seeks to strengthen the school education system.
- The Memorandum of understanding has been signed with an aim of improving the quality and governance of school education in 6 states in India.
- The six states include- Kerala, Maharashtra, Himachal Pradesh, Rajasthan, Madhya Pradesh, Rajasthan, and Odisha.
- The STARS project will be benefitting approximately 250 million students in the age group of 6 to 17 years coming from the 1.5 million schools.
- Apart from the students, the STARS project will also benefit 10 million teachers across the 6 states.
- The STARS project was launched with the aim of strengthening the public-school education.
- The project also supports India’s aim of “Education for All”.
- It carry forward the vision of the National Education Policy 2020 that envisages the equitable education for all.
Funding to the STARS project
- The total cost of the STARS project is Rupees 5718 crore.
- World bank has provided financial support worth US$ 500 million which stands around Rupees 3700 crores.
- This loan has been provided by the International Bank for Reconstruction and Development which is the lending arm of the World Bank.
- World bank has provided the final maturity of 17.5 years for the US$ 500 million along with a grace period of five years.
The STARS project was approved by the Union Cabinet of India chaired by PM Modi under National Education Policy 2020 in October 2020.
About International Bank for Reconstruction and Development
The IBRD is an international financial institution and it was established in 1944. The IBRD headquarter located in Washington, D.C., USA. It is the lending arm of World Bank Group. It offers loans to the middle-income developing countries.
STARS Project in India