Punjab secured $ 100 million loan from Asian Development Bank
Technical and vocational education and training (TEVTA) centers are the beneficiaries of the grant
The Asian Development Bank (ADB) has approved a $100 million loan to help improve technical and vocational education and training (TVET) in Punjab province in Pakistan and ensure skills training meets the demand for jobs in the country’s priority economic sectors.
This will help enhance the quality and relevance of (TEVTA Punjab) to increase graduates’ employability, upgrade workers’ skills, ensure more equitable access to training for women and disadvantaged groups, and improve management and strategic planning in TEVTA institutions,ADB added.
“Punjab makes up over half the national income and is expected to make a significant contribution to Pakistan’s post-flood recovery,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “ADB’s project will fund demand-driven and gender-focused training to boost livelihoods and support industries that are key to Pakistan’s recovery and future growth.”
ADB’s project will finance 19 TVET centers of excellence in eight priority economic sectors: automobile assembly parts and repairs, construction, food processing, health, information and communication technology, light engineering, textiles and garments, and tourism and hospitality.
They will provide programs with linkages to industry and deploy best practices. The project will include the development of skills training programs using technology in response to emerging trends in the fourth industrial revolution.