Sri Lanka, Nov. 6 -- The Government of Sri Lanka has secured a USD 100 million loan facility from the Asian Development Bank (ADB) to implement the Skills Development System Transformation Program under a results-based financing modality.

The five-year programme, scheduled to run from 2027 to 2031, aims to modernise the country's Technical and Vocational Education and Training (TVET) sector by strengthening skills pathways at the secondary level, expanding access to quality, employment-oriented training, enhancing private sector engagement and improving sector governance.

The loan will finance several initiatives, including the upgrading of the existing Automobile Engineering Training Institute into a Centre of Excellence for Automobile...