The Government of Sri Lanka and the Asian Development Bank (ADB) today signed a loan agreement for USD 100 million to implement the Skills Development System Transformation Programme, financed under the result-based modality. The agreement was signed at the General Treasury in Colombo by Dr. Harshana Suriyapperuma, Secretary of the Ministry of Finance, Planning and Economic Development, on behalf of the Government, and Shannon Cowlin, Country Director of the ADB Sri Lanka Resident Mission, on behalf of the Bank.
Scheduled for implementation from 2027 to 2031, the program will strengthen skills pathways at the secondary level, expand quality and employment-oriented training, deepen industry and private sector engagement in Technical and Vocational Education and Training (TVET), and improve sector governance. Under the program, the existing Automobile Engineering Training Institute will be upgraded into a Centre of Excellence for Automobile Technology, while nine TVET centers will be transformed into regional hubs. Facilities at 40 other training centers will also be improved to raise learning quality and widen access. The initiative will update 200 National Competency Standards, along with curricula and learning materials, to match labour market needs. New courses will be introduced in priority occupations and sectors, standards for workplace-based training will be set, and TVET teachers will receive competency-based professional development.
Policy, financing and digital reforms will further improve the efficiency, quality and accessibility of skills development, including financing schemes that enable private training providers to expand their offerings. Digital initiatives include an e-learning platform and a unified Training Management Information System linked to labour market and school management systems, supporting strategic career guidance for students.
Source: Daily News
