The government of Bangladesh and the Asian Development Bank (ADB) signed a $150 million loan agreement on Sunday to strengthen Technical and Vocational Education and Training (TVET), aiming to boost access to decent employment and enhance the country's competitiveness in the global market.
Bangladesh Economic Relations Division (ERD) Secretary Shahriar Kader Siddiky and ADB Country Director for Bangladesh Hoe Yun Jeong signed the loan agreement at a ceremony held at ERD in the capital on Sunday, read an ADB press release.
"Aligned with the country's economic diversification priorities, the program targets five key technology clusters: mechanical, electronics and electrical, information and communication technology, civil, and food and agriculture," said Jeong.
"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)," added the ADB country director.
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.
By the programme's conclusion, at least 10,000 new and existing TVET teachers will have enhanced their capacities, positively impacting over 2,50,000 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 is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific.
Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard the planet.
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