Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka gets US$ 200 million ADB assistance for skills development
Sat, Feb 15, 2014, 12:12 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 15, Colombo: The Asian Development Bank (ADB) has agreed to grant financial assistance of US$ 200 million for Sri Lanka to implement a Skills Sector Development Program (SSDP) that is aimed at increasing the employability of the Sri Lankan workforce, particularly youth.

The Skills Sector Development Programme has been developed and coordinated by the National Planning Department of Finance and Planning Ministry in 2013 to operationalize government's commitment to expand and improve the Technical and Vocational Education and Training (TVET) sector under the Mahinda Chintana, and the National Human Resource Development and Employment Policy.

According to the ADB, while Sri Lanka is ranked 62 out of 148 countries in terms of quality higher education and training, it is ranked 135 in terms of labor market efficiency with 35 percent of skills identified as a problem factor and constraint for trade.

The World Bank has identified inadequately educated labor as a key constraint to improved growth in Sri Lanka.

The Skills Sector Development Programme aims to establish an efficient skills education system to meet the local and foreign labor market demand by 2020.

The SSDP will develop skills, abilities and competencies of the youth to meet the demand of the global economy and support the country's transition to a knowledge-based economy.

Considering high vacancy for skilled and semiskilled jobs, there is a large opportunity for Sri Lankan workers to access better paying jobs.

The Cabinet has approved the proposal made by the President, in his capacity as the Minister of Finance and Planning, to proceed with the relevant activities.

ColomboPage - Recent 10 Stories
Central Bank of Sri Lanka approves 29 consolidation plans of financial institutions
-- [14 minutes ago]
MP of Sri Lanka main opposition threatens to cross over to government
-- [45 minutes ago]
Sri Lankan court issues injunction against health workers' strike
-- [1 hour and 43 minutes ago]
Pakistan, Sri Lanka agree to enhance defense cooperation
-- [2 hours ago]
U.S. support for new hospital in Sri Lanka's former war zone
-- [2 hours ago]
Sri Lanka inflation declines to 3.5 percent in August 2014
-- [3 hours ago]
Sri Lanka Tamil party ready to talk with the government
-- [9 hours ago]
Weapons belonged to Sri Lanka's Tamil Tiger terrorists unearthed in Indian forest reserve
Avis announces new partnership agreement with SriLankan Airlines
Tough action against Sri Lankan rice traders hiding rice stocks

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.