World Bank provides USD 40 mn for higher education


The International Development Association of the World Bank has agreed to provide Rs. 4,560 million (USD 40 million) for implementation of the ‘Higher Education of the Twenty-First Century’ project.

"The objective of the ‘Higher Education for the 21st Century’ project is to accord high priority to improve the employability of University graduates where the graduate unemployment is high among those who followed arts, humanities, general sciences, and External degree programmes. Accordingly, the project will assist to improve IT and English Language skills, and soft skills such as; the ability to work in teams, industriousness, entrepreneurship and good communication of the undergraduates. The project will also pay special attention to the development of Higher Education Institutions in the lagging regions, particularly in the Northern and the Eastern Provinces," the World Bank and Ministry of Finance said in a joint statement issued last morning.

The Financing Agreement for the above project was signed by Dr. P.B. Jayasundera, Secretary, Ministry of Finance and Planning, on behalf of the Government of Sri Lanka and Ms. Naoko Ishii, Country Director for the World Bank in Sri Lanka on behalf of the World Bank.



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