What is STARS Project?

The Department of School Education and Literacy under the Ministry of Education, and the World Bank have signed the Strengthening Teaching-Learning and Results for States Program (STARS) project on January 28, 2021. The project is a financial support agreement.

STARS Project

• STARS project is a centrally sponsored scheme that seeks to strengthen the school education system.
• The agreement has been signed with an aim of improving the quality and governance of school education in six states of India.
• The 6 Indian 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 project will also benefit 10 million teachers across the six states.
• The project was launched with the aim of strengthening the public-school education.
• It also supports India’s aim of “Education for All”.
• The STARS Project carry forward the vision of the National Education Policy 2020 that envisages the equitable education for all.

Funding to the Project

• The total cost of the STARS project is Rs 5718 crore.
• The world bank has provided financial support worth $500 million which stands around Rs. 3700 crores.
• This loan has been provided by the International Bank for Reconstruction and Development (IBRD) which is the lending arm of the World Bank.
• The world bank has provided the final maturity of 17.5 years for the $500 million along with a grace period of 5 years.

Background

The STARS project was approved by the Union Cabinet under NEP 2020 in October 2020.

International Bank for Reconstruction and Development (IBRD)

It is an international financial institution. It was established in the year 1944. The IBRD is headquartered in Washington, D.C., United States. IBRD is the lending arm of World Bank Group. It offers loans to the middle-income developing countries.

Month: Current Affairs - January, 2021