The Asian Development Bank (ADB) and the Government of Bangladesh have signed a $150 million loan agreement to improve technical, vocational education and training. The ADB funds will be used to increase employment opportunities and enhance competitiveness in the global market.

On Sunday (August 3), Economic Relations Division (ERD) Secretary Md. Shahriar Quader Siddiqui and ADB Country Director Hoey Yun Jeong signed the loan agreement on their respective behalf at the NEC Conference Room in Sher-e-Bangla Nagar in the capital.

ADB Country Director Hoey Yun Jeong recently highlighted the importance of the Technical and Vocational Education and Training (TVET) program. He noted that the program will target five key technology sectors in line with Bangladesh’s economic diversification priorities. These sectors are: mechanical, electronics and electrical, information and communication technology, civil, and food and agriculture.

Jeong added that this initiative will strongly support Bangladesh's priority agenda of job creation. It will help address issues such as poverty and social exclusion, and increase opportunities for quality employment and competitiveness in the global market, in line with the government's Integrated TVET Development Action Plan.

ADB said that a new program has been launched to expand modern training opportunities for technical and vocational education and training (TVET) teachers across Bangladesh. The main goal of this initiative is to reach advanced training to teachers in underprivileged areas outside Dhaka. The program will enhance the pedagogical and technical skills of teachers, with a particular emphasis on emerging technologies. As a result, teacher development, management, and reporting systems will be strengthened.

The organization said that after the program is completed, at least 10,000 new and existing TVET teachers will be able to upgrade their skills, which will positively impact more than 250,000 students. The program will establish a continuous professional development system nationwide to ensure the sustainable quality and relevance of TVET in Bangladesh.