Dispur: The loan agreement for the Assam Skill University project with the Asian Development Bank has been signed paving the way for creating a world-class skill university in the state of Assam. The loan agreement was signed today between Takeo Konishi, Country Director, India Resident Mission, ADB, and Adil Khan, Mission Director, Assam Skill Development Mission.

Skill Employment Entrepreneurship Minister Chandra Mohan Patowary termed the event as a major achievement paving the way for the creation of a pool of skilled manpower in Assam and ensuring the employability of the youth of the region.

The Assam Skill University is being set up under the External Aided Project (EAP) funded by Asian Development Bank. The value of the project is estimated to be $140 million including the state share of 20%. An additional grant of $1 million is also provided as technical assistance by the ADB.

The State Government has allotted 250 bighas land in Mangaldoi for the Skill University. It is worth mentioning that the Assam Skill University Act-2020 has already been passed by the Assam Legislative Assembly and the university has started its initial activities.

The process of designing and construction of the University has been initiated in consultation and alignment with ADB’s policy and guidelines. The construction work is expected to start on the ground in Mangaldoi by early next year and the university campus is expected to be completed by 2027. Vice-Chancellor of the University has been appointed and the university will start operating from an interim campus soon.

As per the detailed project report, nine schools have been proposed for the University that will cater to the needs of local entrepreneurs, start-ups, and micro, small, and medium-sized enterprises(MSMEs) for technology, digital, business, and skilling solutions.