Lankapage Logo CP 18 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka and World Bank sign US$100 million Credit Agreement to support higher education
Mon, Jul 17, 2017, 06:11 pm SL Time, ColomboPage News Desk, Sri Lanka.

July 17, Colombo: Sri Lanka has signed a US$100 million credit agreement with the World Bank to support its higher education sector, a World Bank statement said.

The objective of this initiative is to increase enrollment in priority disciplines, improve the quality of degree programs, and promote research and innovation in the higher education sector.

The Accelerating Higher Education Expansion and Development (AHEAD) operation, signed today, is the first in Sri Lanka to use the World Bank Program for Results lending instrument. This instrument focuses on building institutional capabilities while investing in concrete activities to improve outcomes.

World Bank Country Director for Sri Lanka and the Maldives Idah Pswarayi-Riddihough, and Secretary, Ministry of Finance Dr. R.H.S. Samaratunga, signed the project on behalf of the World Bank and the Government of Sri Lanka respectively.

"Sri Lanka's aspiration to rise to an Upper Middle Income Country status depends on the skills and versatility of its people. The higher education system must result in skills that allow individuals to contribute to sustainable economic development of the country," Pswarayi-Riddihough said.

Sri Lanka was ranked 88th of 115 countries for higher education participation in 2014. The country particularly needs to improve student participation in disciplines of vital importance to economic development such as the sciences, technology, engineering, and mathematics (STEM). The proportion of students in the sciences was just 13 percent in 2014. The AHEAD project aims to increase enrollment in higher education with special emphasis on study programs required for an aspiring upper-middle-income economy. This includes to broaden and deepen modern teaching and learning approaches that combine academic excellence with high-quality socio emotional skills; and promote a vibrant research and innovation culture that can support economic development, especially the growth of higher-value industries and services.

"This is an innovative results-driven operation in support of the Government's Higher Education Development Strategy," said Harsha Aturupane, Lead Economist and Task Team Leader. "Promoting research, development and innovation are essential to expand knowledge and technology-intensive industries and services to meet Sri Lanka's aspirations to become an Upper Middle Income Country."

An estimated 600,000 students across a variety of higher education institutions, and approximately 5,000 academics, managers, and technical staff members will benefit directly from this program over its 6-year implementation period, which ends in 2023. The private sector and government will also benefit as they will be able to recruit better-qualified university graduates; future generations of university students and staff members will benefit from the system-wide reforms and improvements; and the private and public sector institutions will benefit from the research and innovation activities.

 


ColomboPage - Recent 10 Stories ::
Former President Chandrika stresses universities to play an important role for National Unity and reconciliation
-- [1 minutes ago]
SriLankan Catering wins another Presidential Export Award
-- [45 minutes ago]
Opposition Leader assures new constitution is within the firm framework of a 'united undivided and indivisible Sri Lanka'
-- [1 hour and 48 minutes ago]
Sri Lanka nationwide inflation rises to 7.9 percent in August 2017
-- [2 hours ago]
EU pledges Rs. 5.4 billion to Sri Lanka to support development in rural areas of Uva and Central Provinces
-- [2 hours ago]
U.S. Embassy provides strategic trade enforcement training to Sri Lankan Customs officials
-- [8 hours ago]
UNICEF recommends Sri Lanka to move policy in early childhood development
-- [8 hours ago]
Constitutional Assembly meets, Prime Minister presents steering committee interim report on new constitution
-- [9 hours ago]
Arjuna Mahendran can be compelled to give evidence - Presidential Commission
-- [9 hours ago]
Sri Lanka Tea export earnings top US$ 1 bn mark up to August

Copyright © 2000, 2016 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.