December 11, 2019
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    ADB provides USD 200 million to Support the Skills Sector Development

    May 28, 2014

    The Skills Sector Development Programme (SSDP) aims to establish an efficient skills education system to meet the local and foreign labor market demand by 2020. The programme will reconfigure of skills, abilities and competencies of the youth to meet the demand of the global economy and support the country’s transition to knowledge-based economy as stated in the Government’s Policy Framework of “Mahinda Chintana Vision for the Future”.


    The Asian Development Bank (ADB) has agreed to contribute to the Government investment on the skills sector by providing US$ 200 million through their new financing modality; Results - Based Lending Program (RBLP) through the implementation of Skills Sector Enhancement Program (SSEP). Out of the above total assistance US$ 100 million will be provided over a period of 3 years commencing from 2014.ADB financing will be done purely on sector wide approach and loan proceeds will be used to support the medium-term expenditure programme of the skills development sector over the stipulated period.
     

    The above ADB financing will be allocated to achieve four major outputs in the skills development sector; (i) improved quality of Tertiary Vocational Education and Training (TVET) provision,(ii) enhanced industry partnership for TVET planning and provision, (iii) increased participation and improved equity in TVET, and (iv) improved sector management to implement policy, institutional, and operational reforms. Relevant Disbursement Linked Indicators (DLIs) have been identified to measure the implementation progress and loan proceeds will be disbursed based on the achievement levels of the specific indicators after evaluation which will be carried out jointly by the GOSL and ADB in the 2nd quarter of each year. Sri Lanka will receive about USD 40 million in 2014, USD 30 million in 2015 and USD 30 million in 2016 based on the implementation progress of the program.
     

    The Ministry of Youth Affairs and Skills Development (MYASD) will be the Executing Agency for SSEP, and the implementing agencies will be MYASD and respective line Ministries. The Sector Development Division (SDD) established under MYASD will be responsible for (i) coordinate and support implementing agencies to plan, implement, and monitor SSEP activities, (ii) initiate implementation of new initiatives under SSEP, and (iii) undertake program-specific monitoring and reporting of SSEP activities including DLIs achievements. The SSEP is scheduled to be completed by 2016.
     

    In this connection, Dr. P B Jayasundera, Secretary to the Ministry of Finance and Planning on behalf of the Government of Sri Lanka and Ms. Sri Widowati, Country Director of ADB Sri Lanka Resident Mission on behalf of ADB, signed the two Loan Agreements yesterday (27) at the Ministry of Finance and Planning.


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