ADB provides $150m for skills development in Bangladesh

Asian Development Bank (ADB) and Bangladesh government today signed an agreement of $150 million in loan to continue support in skill development training. 

Monowar Ahmed, secretary to Economic Relations Division (ERD) and Manmohan Parkash, country director of the ADB signed the agreements on behalf of Bangladesh and ADB respectively at a function in Dhaka, said a press release.

Lauding Bangladesh for its first-paced economic development, Parkash said, this is a flagship ADB program for providing market responsive inclusive skills training in emerging trades and strengthening institutions like National Skills Development Authority and the National Human Resource Development Fund.

“To improve human resources is a critical issue for Bangladesh in becoming a developed nation by 2041,” the country director said.

“Bangladesh can further boost its economy by skilling the workforce and increasing its inward remittance many folds by exporting skilled workers,” he noted.

The project will train up around 320,000 people, 30 per cent of whom will be women, said the release.

It will support new training to the socially disadvantaged groups including people with disabilities and women entrepreneurs to ensure inclusive skilling efforts, the press release added.