Economic Reporter :
The government and Asian Development Bank (ADB) on Tuesday signed an agreement for a US$100 million loan for up-skilling young workforce, especially women, to enhance job opportunities, expand economic base, and boost income.
The assistance is the second tranche of the $350 million multitranche financing facility (MFF) approved by ADB in 2014 for the Skills for Employment Investment Program (SEIP). The remaining amount from the ADB assistance is expected to be utilized before the MFF period ends in 2024.
Kazi Shofiqul Azam, Secretary, Economic Relations Division (ERD), and Kazuhiko Higuchi, Country Director, Bangladesh Resident Mission, signed the loan agreement on behalf of Bangladesh and ADB respectively, at a ceremony at NEC here.
“The program underpins the country’s path toward higher income level with diversified and expanded economic base, while providing good jobs to people, especially women,” said Country Director Kazuhiko Higuchi.
“The program has already delivered significant benefits. ADB will continue supporting this strategically important program of the government in the coming years,” he added.
The second tranche of the SEIP will support expansion of the training program to 9 priority industries, bringing in 3 additional industry associations (Bangladesh Agro-processors’ Association, Industry Skills Council for Hospitality and Tourism, and Bangladesh Women Chamber of Commerce and Industry), and 15 training providers.
Up-skilling training for Bangladeshi migrant workers overseas, especially for managerial skills, is an important goal under the expanded program. Over 240,000 people, 30 percent women, will be trained by 2021.
