Minister Kan Zaw said that the National Project Bill was officially submitted to Parliament.
Under the bill, an extra 47,395 primary school, 27,602 middle school, 8,472 high school and 3,446 university teachers were expected to be employed during the year.
The bill looks to improve many aspects of the education sector such as increasing funds for state schools, more scholarship options and rewards for academic excellence.
It hopes to gain scholarship and educational funds from the World Bank worth Ks5,140 million for the former and Ks28,200 million for the latter.