Friday, July 12, 2013

Rs 1.9 billion ADB grant assistance for skill development

The Asian Development Bank (ADB) is providing Rs 1.924 billion grant assistance for the implementation of Skill Development Project.
The project is expected to support develop a market responsive and social and gender approachable Technical Vocational Education and Training (TVET) system, according to Finance Ministry.
The project will focus mainly on four major aspects like expanded provision of inclusive market-oriented training, improved quality and relevance of TVET provision, policy, institutional and operational reforms and effective project management and monitoring and evaluation, the ministry said.
Finance secretary Shanta Raj Subedi and ADB country director for Nepal Kenichi Yokoyama signed the agreement here today at the Finance Ministry.
The grant assistance would support in producing human resources for the economic development of the country, said Yokoyama, after signing the agreement. “Some 50,000 skilled human resources would be produced from the project,” he said.
The project will be important in creating employment opportunities, inclusive development and for the alleviation of poverty, the finance secretary said, on the occasion.
The project is expected to be completed in five years from September 2013.
The Education Ministry will be an executing agency and Council for Technical Education and Vocational Training (CTEVT) will be the implementation agency for the project.

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