The World Bank has allocated $42.2 million for a modernization of higher education project. Fund for support academic innovations under the MHSSE will be established in Uzbekistan.
According to the Ministry of Higher and Secondary Special Education, April 27 the World Bank Executive Directors Board approved a loan from the International Development Association (IDA) in the amount of 42.2 million US dollars for "Modernization of the higher education system in Uzbekistan" project.
The project will assist Uzbekistan in achieving the ambitious goal - to enter in the ranks of the industrialized countries with income above the average by the middle of the XXI century. This transformation requires development of a workforce having advanced skills, which can use its entrepreneurial skills to improve the competitiveness of the economy and serve as a catalyst for its modernization.
The project is aimed at strengthening management potential in the higher education system of Uzbekistan, as well as improvement the relevance of learning environment in a number of universities and its update in terms of the labor market requirements. The project is planned to be implemented from 2016 to 2023 years.
Measures to strengthen the higher education management will be taken within the project. Investments will also be used to improve the learning environment in higher educational institutions. It is planned to create the Fund for Support of academic innovation under the MHSSE which will provide financial support for innovative projects to increase the relevance of higher education.