ADB supporting skills training to boost job prospects

The Asian Development Bank (ADB) and the government of Bangladesh on Tuesday signed an agreement for a $100 million loan for up-skilling young workforce, especially women, to enhance job opportunities, expand economic base, and boost income.

According to an ADB release, the assistance is the second tranche of the $350 million multi-tranche financing facility approved by ADB in 2014 for the ‘Skills for Employment Investment Programme (SEIP).

The remaining amount from the ADB assistance is expected to be utilised before the facility period ends in 2024.

Kazi Shofiqul Azam, secretary at the economic relations division (ERD), and Kazuhiko Higuchi, country director at resident mission, signed the loan agreement on behalf of the two sids at a ceremony in Dhaka.

“The programme underpins the country’s path toward higher income level with diversified and expanded economic base, while providing good jobs to people, especially women,” said the ADB country director, Kazuhiko Higuchi.

“The programme has already delivered significant benefits. The ADB will continue supporting this strategically important program of the government in the coming years.”

The second tranche of the SEIP will support expansion of the training programme to nine priority industries, bringing in three 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 Bangladesh imigrant workers overseas, especially for managerial skills, is an important goal under the expanded programme. Over 240,000 people, 30 per cent women, will be trained by 2021, said the release.

The SEIP tranche-II programme is estimated to cost a total of $133 million.

In addition to the $100 million ADB assistance, the programme is complemented by $25 million from the Government of Bangladesh, $4.5 million from the government of Switzerland, and $3.5 million from the private sector.