Rapid Fire
Boosting Fintech Education and Innovation
- 16 Mar 2024
- 2 min read
The Government of India and the Asian Development Bank (ADB) have signed a USD 23 million loan agreement to enhance access to quality fintech education, research, and innovation at the Gujarat International Finance Tec-City (GIFT-City).
- The project will establish an International Fintech Institute (IFI) to strengthen fintech education, boost startup success rates, and drive fintech research and innovation.
- Emphasis will be placed on market-driven fintech skills programs, private sector investment, and collaboration between industry, institutes, and partners for holistic growth.
- IFI will offer industry-aligned fintech training programs meeting international standards and supporting innovation and entrepreneurship.
- The ADB program will support research in climate fintech, regulatory technology, social inclusion, and gender equality in finance to develop new solutions and a state fintech readiness index.
- GIFT-City is a business district and the first operational greenfield smart city in India. It's located on the banks of the Sabarmati River in Gujarat
- It is inclined to provide a conducive business ecosystem at par or above with leading global financial hubs.
- It consists of a multi-service Special Economic Zone (SEZ), which houses India’s first International Financial Services Centre (IFSC) and an exclusive Domestic Tariff Area (DTA).
Read more: GIFT City and Bullion Exchange, ADB Regional Conference and PM Gati Shakti
