Sri Lanka inks deal with ADB for US$400mn education loan

ECONOMYNEXT – Sri Lanka has signed an agreement to receive a 400 million dollar Asian Development credit to develop education, providing skills for young people and changing teaching methods, the Manila-based lender said.

“ADB is pleased to partner with the government in its efforts to develop a knowledge-based economy and to address challenges facing the education sector in the COVID-19 pandemic,” ADB Sri Lanka Resident Mission Country Director Chen Chen said.

The program will equip the young population with knowledge and skills in science, technology, mathematics, and commerce (STMC) streams, the ADB said, raising the competencies, productivity and adaptability.

To achieve this, the program will reform the curricula, instruction, and assessment systems to focus on practical application of knowledge and integrate cognitive and socio-emotional skills.

“ADB has been a long-term and a committed partner in helping to improve and modernize the education sector in Sri Lanka,” said Secretary to the Ministry of Education Kapila Perera.

“We acknowledge and appreciate ADB’s support in building a skilled labor force that can rise up to the challenges and opportunities posed by an advancing global economy and put Sri Lanka on a higher growth path”.

The program also focuses on improving teaching quality and teacher training given the importance of quality of teaching and method of instruction on learning.

More than 47,000 upper secondary education teachers will be trained on inquiry-based and interactive learning approaches to increase student interest and engagement with subject content and inspire a love of learning. (Colombo/Dec02/2020)

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  1. A good project. Please use the funds only to achieve the purpose. There should be a monitoring process for the progress. Every citizen contribute to pay back the loan. So don’t misuse the loan.

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