PM-SETU Programme gets $830 million World Bank loan to upgrade ITIs

Exam-focused facts from the 4 February 2026 current affairs briefing.

Key facts

World Bank approved $830 million loan for PM-SETU to revamp Industrial Training Institutes (ITIs).
PM-SETU targets training over 1 million skilled workers annually and mobilising at least $680 million in private investment.
Programme adopts hub-and-spoke model: 200 advanced hub ITIs and 800 spoke ITIs district-wide.
Loan has 19.5-year final maturity including 4-year grace period.
Curricula will be updated and at least 25% of ITI students will be women.
Special Purpose Vehicles (SPVs) with anchor firms will manage government-owned but industry-run operations.
Focus sectors include manufacturing, electric vehicles (EVs), artificial intelligence (AI), green energy, textiles, and construction.