The Asian Development Bank (ADB) and the government of Bangladesh today signed agreement for $150 million in loan to continue to support sector-focused job-ready skills training.
The assistance is under the third and last tranche of the ongoing Skills for Employment Investment Program (SEIP) in providing market-responsive skills training through partnerships with public institutes, industry associations and other organisations, covering skills requirements in 10 industry sectors.
Monowar Ahmed, Secretary, Economic Relations Division (ERD), and Manmohan Parkash, Country Director, ADB, signed the agreements on behalf of Bangladesh and ADB, respectively, at a ceremony in Dhaka.
Lauding Bangladesh for its first-paced economic development, Manmohan Parkash said, "This is a flagship ADB program for providing market responsive inclusive skills training in emerging trades and strengthening institutions like National Skills Development Authority and the National Human Resource Development Fund."
"Skilling to improve human capital is critical for Bangladesh in becoming a developed nation by 2041," he said.
Overall, the project will train about 320,000 people, 30% of whom will be women. It will support new training specifically targeted at socially disadvantaged groups (including people with disabilities) and women entrepreneurs to ensure inclusive skilling efforts.