Bhopal (Madhya Pradesh): The Finance Department is preparing to launch the state’s first Social Impact Bond (SIB) through the Other Backward Class (OBC) Department before the end of the current financial year.

The Social Justice and Health departments are also working on similar projects, but their proposals are yet to reach final approval.

A senior Finance Department officer said that a state-level steering committee has already given in-principle approval to the OBC department’s proposal, which will now be placed before the cabinet for final clearance.

An officer from the OBC Department, requesting anonymity, said the SIB project aims to facilitate overseas placements for 600 OBC youths in Germany and Japan.

A unit of the National Skill Development Corporation (NSDC) will set up a t

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