• The program is part of the WBG’s new Country Partnership Framework (CPF) for India (Financial Year(FY)2026–31), which envisages USD 8–10 billion in annual financing.

About Loan Approvals for PM-SETU:
Loan Terms: The loan has a final maturity of 19.5 years, including a 4-year grace period.
Objective: The initiative aims to upgrade ITIs and National Skill Training Institutes (NSTIs) to bridge skill gaps and improve job placement outcomes.
Joint Preparation: The program was jointly prepared by the World Bank (WB) and the Asian Development Bank (ADB).
Funding Model: The program plans to mobilize at least USD 680 million in private capital to strengthen ITI infrastructure and operations.
Institutional Framework: A hub-and-spoke model will be implemented comprising 200 hub ITIs and 800 spoke ITIs with strong industry integration.
Sectoral Focus: Training will prioritize high-demand sectors including manufacturing, Electric Vehicles (EVs), Artificial Intelligence (AI), green energy, textiles, and construction.
Workforce Target: PM-SETU seeks to generate over 1 million better-skilled workers annually while ensuring 25% female participation through updated curricula.