Home / Front Page/ OPEC Fund extends $ 50 m boost for technological education

OPEC Fund extends $ 50 m boost for technological education


Comments / {{hitsCtrl.values.hits}} Views / Monday, 9 July 2018 00:20


The OPEC Fund for International Development (OFID) is extending $ 50 million for the implementation of a technological education development program in Sri Lanka.



The program, initiated by the Ministry of Education, expects to construct technical laboratories and provide required machinery and equipment to the schools through. The total cost of the project is $ 60.70 million. The OFID has agreed to provide a loan of $ 50 million in support of the project. The balance $ 10.70 will be borne by the Government, the Finance Ministry said.



The loan agreement was signed last week at the Headquarters of OFID in Vienna, Austria by Finance Ministry Secretary Dr. R.H.S. Samaratunga and OFID Director General Suleiman J. Al-Herbish.



The OFID has been a major development partner of Sri Lanka, providing financial assistance to implement a number of strategically important development projects during the past two decades. Under the current portfolio, OFID provides financing for road and irrigation sectors. 



The lines and working pattern of our workforce is bound to change with both emerging technologies and the changing demand for skills. Therefore, it is necessary for Sri Lanka to align its education and skills development program with emerging needs. The vocational training, science, technology and research will be coming together to provide the professional skills needed. The Government recently introduced the 13-year mandatory education policy. It is compulsory to provide the required infrastructure, facilities and equipment with modern technology for practical activities as well as for the training of teachers. 

 


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Bright star Imran Khan could well go the way of his predecessors

Saturday, 21 July 2018

Imran Khan, the Pakistani cricket star, anti-corruption crusader and politician, appears to be within reach of his cherished goal of winning the 25 July Pakistan National Assembly (NA) elections and becoming Prime Minister.


Top Cola brand crashing globally; lesson for Sri Lanka

Friday, 20 July 2018

We have heard the age old adage, if a brand is not in line to the trends of a customer, they will cease to exist over time.


Religion and politics: a tale of two hypocrisies

Friday, 20 July 2018

It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness; it was the epoch of belief,


Sri Lanka’s Trade Information Portal – Bringing local traders one step closer to the global market

Friday, 20 July 2018

Sri Lanka’s traditional lacework famously known as Beeralu is slowly moving into the spotlight of the global fashion industry


Columnists More