Bhubaneswar, Oct. 30: A World Bank team today held a meeting with senior state government officials on financial and technical assistance for development of higher education.

The state has prepared an estimated budget proposal of Rs 1,019 crore for World Bank funding. The funding, however, is subject to central approval.

The project will help government colleges and universities to use institutional grants effectively and improve the higher education and ensure better capacity utilisation, including activities to make students employable.

The project would also help create centres of excellence in select colleges and university departments.

"We would use the funds to fill vacancies, improve information technology and construct HRD centres," said higher education minister Pradeep Panigrahi.

Various development models to increase the gross enrolment ratio in the state were discussed at the meeting. The bank will fund Odisha in order to implement the appropriate higher education model for the state. The present ratio of the state is a low 18 per cent among graduate and postgraduate students.

Disadvantaged and meritorious students would also get financial support through scholarships. It would upgrade qualifications and skills of new and existing faculty members through a state institute for higher education training and research and extend technical assistance to government-run higher education institutions to gain NAAC accreditation.