By Newswire Editorial
The Government of Sri Lanka has signed a USD 100 million loan agreement with the Asian Development Bank (ADB) to implement the Skills Development System Transformation Program, aimed at modernising the country’s technical and vocational education and training sector.
According to the Ministry of Finance, the agreement was signed today (06) at the General Treasury in Colombo.
Secretary to the Ministry of Finance, Planning and Economic Development Harshana Suriyapperuma signed the agreement on behalf of the Sri Lankan government, while ADB Sri Lanka Country Director Shannon Cowlin signed on behalf of the Asian Development Bank.
The USD 100 million loan will be provided under a results-based financing arrangement to strengthen skills development at the secondary education level, expand employment-oriented training and improve industry and private sector participation in Technical and Vocational Education and Training (TVET).
The programme is scheduled to be implemented from 2027 to 2031.
Under the initiative, the existing Automobile Engineering Training Institute will be upgraded into a Centre of Excellence for Automobile Technology, while nine TVET centres will be transformed into regional training hubs.
Facilities at another 40 training centres will also be improved to expand access to quality vocational education.
The Ministry said the programme will also update 200 National Competency Standards, curricula and learning materials to better align training with labour market requirements.
New courses will be introduced in priority industries and occupations, while workplace-based training standards and professional development programmes for TVET instructors will also be strengthened.
The initiative will further support policy, financing and digital reforms, including financing schemes to encourage private training providers to expand their services.
Digital transformation measures will include the introduction of an e-learning platform and a unified Training Management Information System linked to labour market and school management information systems.
The Ministry said the programme will also strengthen skills development pathways for secondary school students and provide career guidance to help them make informed decisions about vocational training and employment opportunities. (Newswire)