KATHMANDU: The Asian Development Bank (ADB) has agreed to provide Rs. 1.924 billion (equivalent to 20 million US dollars) grant assistance to the Government of Nepal for the implementation of Skill Development Project.
A press release issued by the Ministry of Finance on Friday informed that the project will support the Government of Nepal to develop a market responsive and social and gender approachable technical vocational education and training (TVET) system.
For this purpose, the project will deliver four outputs namely: (1) expanded provision of inclusive market-oriented training, (2) improved quality and relevance of TVET provision, 3) policy, institutional and operational reforms, and 4) effective project management and monitoring and evaluation.
The major priority of this five-year long project is to match the skills by TVET trainees with needs of both the domestic and international labor market. Under this project, the training program will be categorized on two level i.e. basic-level (of three-month duration); mid-level (diploma and technical school leaving certificate) by focusing on the three areas namely, constriction, services and manufacturing. It is expected that the project will increase employment opportunity to Nepalese workforce.
The Ministry of Education will be responsible as an executing agency and Council for Technical Education and Vocational Training (CTEVT) as key implementation agency. Secretary at the Ministry of Finance, Shanta Raj Subedi, and Country Director of ADB for Nepal, Kenichi Yokoyama, signed the agreement.
Similarly, Finance Secretary Subedi expressed sincere appreciation to ADB for its continuous assistance in the socio economic development of Nepal.
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