Adb Technical Education Project in Sri Lanka

Sri Lanka: Technical Education

Development Project

Overview of Project

•

ADB will help develop more highly skilled workers in Sri Lanka through a US$20

million loan to improve technical education and vocational training (TEVT) in the

country

•

The project will improve quality, relevance, and sustainability of the programs for

technicians and technologists by developing standards, upgrading selected

colleges, and boosting the capacity of TEVT teachers and personnel

•

It will help to meet the supply of technicians, skilled workers and mid level

professionals, which is falling short of both local and international demand

•

It will strengthen the Ministry of Skills Development, Vocational and Technical

Education (MSDVTE) and other relevant institutions to better facilitate and ensure

a relevant, quality, and sustainable TEVT in the country

•

ADB's loan, which will cover 75% of the project's total estimated cost of $26.7

million, comes from its concessional Asian Development Fund. The Government

will shoulder the balance of $6.7 million

Project Data

Loan Identification

Country

ADB Loan Number

Project Title

Borrower

Executing Agency

Amount of ADB Loan

Government of Sri Lanka

Sri Lanka

2197-SRI (SF)

Technical Education Development Project

Democratic Socialist Republic of Sri Lanka

Ministry of Vocational and Technical Training, Ministry of Youth

Affairs and Skills Development

$20 million

$6.7 million

Loan Data

Appraisal

- Date Started

- Date Completed

Closing Date

- In Loan Agreement

- Actual

- Number of Extensions

Terms of Loan

- Interest Rate

- Maturity

- Grace Period

18 July 2005

29 July 2005

31 August 2011

31 August 2011

0

1.0% per annum during grace period 1.5% per annum thereafter

32 years

8 years

Project Data

Project Cost ($ Million)

Source

Foreign Exchange Local Currency

Total Cost

Percent

ADB

9.9

10.1

20.0

75

Government

0.0

6.7

6.7...