ISLAMABAD: The Asian Development Bank (ADB) approved on Tuesday a $100 million loan to help improve technical and vocational education and training (TVET) in Punjab and ensure skills training meets job demand in important economic sectors.
A press release issued Tuesday by the ADB said that the “Improving Workforce Readiness in Punjab Project” will help enhance TVET’s quality and relevance to increase “graduates’ employability, upgrade workers’ skills, ensure more equitable access to training for women and disadvantaged groups, and improve management and strategic planning in TVET institutions”.
It stated that the project includes a $2m technical assistance grant from the Japan Fund for Prosperous and Resilient Asia and the Pacific which will help to strengthen the province’s TVET institutional framework and strategy.
ADB Director General for Central and West Asia Yevgeniy Zhukov said that Punjab contributed to over half of the country’s national income and was expected to make a “significant contribution” to post-flood recovery.
“ADB’s project will fund demand-driven and gender-focused training to boost livelihoods and support industries that are key to Pakistan’s recovery and future growth,” the press release quoted Zhukov as saying. – PR
