The objective of the scheme is to support the efforts of the management of the Non-Government aided institutions/non-grant-in-aid institutions for the upgradation and maintenance of infrastructural facilities for promoting a conducive atmosphere for learning.
💰As Goa Education Development Corporation is a Grant in Aid Corporation, Soft loan beneficiaries are assisted by taking loans from Economic Development Corporation and further disbursing it as below: | 50% of the Loan Amount | Released immediately on the issue of sanction order by the Directorate of Higher Education. | 40% of the Loan Amount | Released on the production of a certificate from a Government Registered Engineer duly signed by a Chartered Accountant and College Principal/Head of Institution; to the effect that the first instalment of 50% has been fully utilized for the purpose for which it was granted. | 10% of the Loan Amount | Released subject to the following three conditions: | a) Production of a certificate from a Government Registered Engineer duly signed by a Chartered Accountant and College Principal/Head of Institution; to the effect that 40% of the loan amount has been fully utilized for the purpose for which it was granted. | b) The project is completed and a completion certificate for that effect is produced by the Management. | c) The occupancy certificate is issued by a competent authority to the satisfaction of the Directorate of Higher Education.