The Asian Development Bank (ADB) will provide US$150 million in loans to Bangladesh, aiming to help it in the field of technical and vocational education and training.
The financial assistance is expected to to enhance access to decent employment and boost the country’s global market competitiveness.
The Bangladesh government signed a loan agreement with the Manila-based lender to this end at an event at the Economic Relations Division (ERD) on Sunday, according to a release.
ERD Secretary Md Shahriar Kader Siddiky and ADB Country Director Hoe Yun Jeong signed the loan agreement on behalf of their respective sides.
“Aligned with the country’s economic diversification priorities, the program targets five key technology clusters: mechanical, electronics and electrical, information and communication technology, civil, and food and agriculture,” said Hoe Yun Jeong.
“It supports Bangladesh’s priority agenda of job creation, addresses non-income dimensions of poverty and social exclusion, and enhances access to decent employment and competitiveness in the global market, aligned with the government’s Integrated TVET Development Action Plan (ITDAP)”.
The results-based assistance for the Technical and Vocational Education and Training (TVET) Teachers for the Future Program will expand access to modern teacher training—especially in under served regions outside Dhaka.
It will also help improve the pedagogical and technical skills of educators in emerging technologies; and strengthen systems for teacher development, management, and reporting.
By the programme’s conclusion, at least 10,000 new and existing TVET teachers will have enhanced their capacities, positively impacting over 250,000 students.
The programme will also establish a nationwide system for continuous professional development to ensure the sustained quality and relevance of TVET in Bangladesh.