ADB to provide Rs.1 billion and 924 million to Nepal

Kathmandu, July 12 – The Asian Development Bank (ADB) has signed an agreement to provide Rs. 1 billion and 924 million (equivalent to 20 million US dollars) grant assistance to the Government of Nepal for the implementation of Skill Development Project.

 

According to a press release issued by the Ministry of Finance today, the project will support the Government of Nepal to develop a market responsive and social and gender approachable technical vocational education and training (TVET) system.

 

Secretary at the Ministry of Finance, Shanta Raj Subedi, and Country Director of ADB for Nepal, Kenichi Yokoyama, signed the agreement.

 

The major priority of this project is to match the skills by TVET trainees with needs of both the domestic and international labour market.

 

Under this project, the training programme will be categorised into basic-level (of three-month duration) and mid-level (diploma and technical school leaving certificate) by focusing on the three areas namely, constriction, services and manufacturing. It is expected that the project will increase employment opportunity to Nepalese workforce.

 

The duration of the project is of five-years to be implemented from September 2013. The project has aimed to create 50,000 skilled human resources during this time.

 

The Ministry of Education will be responsible as an executing agency and Council for Technical Education and Vocational Training (CTEVT) will work as key implementation agency.

 

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