The Sri Lankan government receives a
US$ 200 million loan facility from the
Asian Development Bank has granted to ‘revamp’ the country’s secondary school
system. The Asian Development Bank’s (ADB) Sri Lanka Country Director, Rita
O’Sullivan, and Secretary to the Treasury and Alternate Governor for Sri Lanka
in ADB, P. B. Jayasundera, have signed an agreement for a US$ 200 million loan
to help the Government of Sri Lanka revamp its secondary school system to cut
youth unemployment and meet the country’s urgent need for a skilled workforce,
a joint statement said.
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The money would be utilized to upgrade the school facilities, train teachers, enhance the number of students studying science and commerce and also to train school administrators to improve their leadership, management, and planning are among several other planned activities. "The loan marks the first results-based lending program approved by ADB. Loan payments will be linked to the achievement of goals such as the rollout of a full curriculum in schools, implementation of a technology stream, and training principal teachers. The program supports the Government of Sri Lanka’s Education Sector Development Framework and Program for 2013-2017.
"Effective schools with competent
teachers and good facilities are critical for young people to learn the skills
they need to find good jobs once they graduate and, in doing so, to contribute
to economic growth in Sri Lanka," said Ms. O’ Sullivan. "Under the
Education Sector Development Program, ADB’s loan will finance the development
of a national student assessment framework, which integrates school assessments
with external exams to improve pass rates, and supports the introduction of
technology classes to allow secondary school graduates to move more easily into
vocational courses. School facilities will be upgraded and training and
placement of teachers carried out to raise the number and enhance the
capabilities of students studying science and commerce. School principals and
education agency staff will receive training to improve school leadership,
management, and planning, and a financing facility will be developed to ensure
that upgraded equipment and facilities are properly maintained", She further
added.
The
government will spend US$ 4.8 billion to implement the National Education
Section Strategic Plan for General Education over a period of 5 years from 2013
to 2017 under the Medium Term Expenditure Framework of the government and the
ADB has agreed to give 4 percent of the total cost. While Sri Lanka has
achieved strong primary education enrolment and high literacy levels, the end
of the civil conflict and the anticipated rapid economic growth had made
improvement of survival rates through secondary education and the increase in
relevance of the knowledge and skills to meet the requirements of the private
sector more urgent and necessary. The government's five-year plan envisages
these challenges and the ADB will provide technical assistance to implement the
project. The Cabinet has approved the Sri Lankan President's proposal to enter
into a loan agreement with the ADB.
