United News of Bangladesh

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.  ADB okays $58.6 mln grant, $28.1 mln loan for Rohingyas, host communities 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.

Asian Development Bank (ADB) has provided (USD) $ 150 million loan aiming to facilitate employment creation and help retuning migrants, youth and rural entrepreneurs recover from the adverse impact of the COVID-19 pandemic. A loan agreement was signed between the government and ADB in this regard on Monday.  Fatima Yasmin, secretary, Economic Relations Division (ERD), and Edimon Ginting, country director, Bangladesh Resident Mission of ADB, signed the loan agreement on behalf of their respective sides. Read: ADB to provide $150 million targeted at CMSE's, job creation The project will be implemented by Bangladesh Bank (BB) with a view to foster recovery from the detrimental effects of Covid-19 pandemic by restoring employment, income and economic activities. Soft loans will be provided to unemployed or underemployed youth, returning migrants and rural entrepreneurs with a focus on women. ADB is one of the largest multilateral development partners of Bangladesh extending assistance to the country since it became a member of ADB in 1973. The ADB’s total loan to Bangladesh till now is more than $26.75 billion and total grant is about $1053 billion. Read: ADB approves $150 million loan to Bangladesh to help recovery of Covid-hit enterprises The development assistance of ADB mainly focuses on power, energy, local government, transport, education, agriculture, health, water and financial sector development of Bangladesh.