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J.P. Morgan to invest $10 mn in India-focused World Bank project

J.P. Morgan has committed up to $10 million to a new World Bank Multi Donor Trust Fund focused on improving the quality of skills development for young people in India. The program – School to Work: Skilling India’s Youth – will improve access to quality and market-relevant training for youth in select states of India. The program will support innovative models in curriculum development; provide appropriate training for teachers as well as career counseling for students; develop and match skills development programs to emerging demand in the future of work; foster inclusion of marginalized communities; and reduce gender gaps in accessing skills development programs. Pilot projects will be launched in Maharashtra and Rajasthan.

Junaid Ahmed, World Bank country director, India, said children who are in primary school today are likely to work in jobs that do not even exist right now. To prepare for a fundamentally altered world of work, investing in people and their skills, is going to be a critical policy decision country can make to secure the future of their citizens. He added that the collaboration with J.P. Morgan focused on improving the quality of skills development for young people, will support India’s efforts to tap into the future job market as it strives to transition to a high middle-income country. The investment in the World Bank program is part of J.P. Morgan’s $25 million, 5-year commitment to help low- and middle-income communities in India develop the skills needed by the country’s workforce in the future.

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