World Bank offers $500 million loan to India

New Delhi, Oct 5 (IANS) The World Bank has offered a $500 million loan to support secondary education in India.

The loan will be used to finance Rashtriya Madhyamik Shiksha Abhiyan (RMSA), a government initiative to promote secondary education in the country.

Prabodh Saxena, joint secretary in the finance ministry, and Onno Ruhl, country director, World Bank (India), signed the loan agreement here Friday.

"The Objective of the project is to help India to achieve increased and more equitable access to good quality secondary education through support of the government's ongoing programme for secondary education," the finance ministry said in a statement.