The World Bank on Thursday approved a record $1.05 billion line of credit to help get more children into schools in India, the largest ever investment in education by the poverty-fighting institution.
“This is going to be a game-changer for a number of the poorest households in India, who until now have been out of the system,” Carlson told Reuters.
Since that program’s launch in 2002, school enrollments have increased significantly.
(READ the story in Reuters)
I am very happy to see investment in educating the poor children of India. However, it is too bad that it is in the form of a loan which means it must be paid back with interest. How are they supposed to pay it back? After all, unlike most World Bank loans, this is not an airport, highway or industrial plant.