The Asian Development Bank (ADB) and Bangladesh on Sunday signed a $150 million loan agreement to improve technical and vocational education and training (TVET), aiming to enhance access to decent employment and boost the country’s global market competitiveness.

Economic Relations Division (ERD) secretary Md. Shahriar Kader Siddiky and Country Director Hoe Yun Jeong signed the loan agreement on behalf of Bangladesh and ADB respectively at a ceremony at ERD in Dhaka.

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The results-based assistance for the Technical and Vocational Education and Training (TVET) Teachers for the Future Program will expand access to modern teacher training—especially in underserved regions outside Dhaka; improve the pedagogical and technical skills of educators in emerging technologies; and strengthen systems for teacher development, management, and reporting.

Under the programme, at least 10,000 new and existing TVET teachers will have enhanced their capacities, positively impacting over 250,000 students.

The programme will also establish a nationwide system for continuous professional development to ensure the sustained quality and relevance of TVET in Bangladesh.

ADB Country Director Hoe Yun Jeong said that aligned with the country’s economic diversification priorities, the programme targets five key technology clusters: mechanical, electronics and electrical, information and communication technology, civil, and food and agriculture.

“It supports Bangladesh’s priority agenda of job creation, addresses non-income dimensions of poverty and social exclusion, and enhances access to decent employment and competitiveness in the global market, aligned with the government’s Integrated TVET Development Action Plan (ITDAP),” he said.