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
Doubts raised on Pope's visit to Sri Lanka amid snap presidential polls
-- [1 hour and 50 minutes ago]
Opposition MPs say election materials are being prepared in Sri Lanka Port Authority Defense Training School
-- [2 hours ago]
Sri Lanka to appeal to Europe Court of Justice on lower court ruling to lift sanctions on LTTE
-- [2 hours ago]
Browns Hotels and Resorts of Sri Lanka to develop four-star hotel in Maldives
-- [4 hours ago]
India to supply two naval offshore patrol vessels to Sri Lanka - report
-- [5 hours ago]
Sri Lanka police use water cannons and tear gas to disperse university students' march
-- [5 hours ago]
Sri Lanka's Sinhala Buddhist extremist group to contest for the upcoming elections
-- [5 hours ago]
Sri Lanka External Affairs Minister defends ministry secretary against 'unfounded allegations'
-- [6 hours ago]
Iran calls for expanding politico-economic relations with Sri Lanka
-- [7 hours ago]
Opposition lawmakers on fact finding mission attacked in Sri Lanka

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.