WB to fund additional $100m to strengthen vocational education

Bangladesh will receive $100 million additional fund from the World Bank (WB) that will be utilised to scale up its support to strengthen country’s technical and vocational education. 

A financing has been signed between Economic Relations Division (ERD) and WB. Additional secretary of ERD (WB wing) Kazi Shofiqul Azam and acting country director of WB Dhaka office Martin Rama signed the additional financing agreement on behalf of their respective sides at ERD at Sher-e-Bangla Nagar in the capital. 
After signing the agreement, Kazi Shafiqul Azam said this financing will enable 200,000 poor students to complete vocational training and diploma courses.
He also aid the overall responsibility of the implementation rests with the directorate of technical Education 
(DTE) as the lead implementation agency while the bureau of Manpower, Employment and Training and Bangladesh Technical education board would implement relevant components.
Martin Rama said the project will strengthen technical training institute to improve training quality and employability of diploma and short term training programmes in both public and private institutions and to make the technical and the vocational education training sector more responsive to current and emerging local and global labour market. 
With this additional financing to the ongoing Skills and Training Enhancement Project (STEP), the WB’s total support to the project stands at $179 million, with co-financing of $16.7 million in grants from the government of Canada. 
The project offers vocational training opportunities that respond to market demand to the poor.
To date, more than 110,000 diploma students from low-income households have received stipends in 93 polytechnic institutions.
 In addition, nearly 70,000short-course trainees received free 6-month vocational training in 38 trades including electrical, automotive and garments. Within six months of completing the courses, 42 per cent of the trainees were employed.
According to the WB, the additional financing will expand coverage of institutional development grants to public and private polytechnic institutions. 
With the financing, an increased number of private and public polytechnics will be able to improve classrooms and laboratories, and establish industrial partnerships for internships, job placement and job counseling services. 
The additional financing will scale up the coverage of short-course trainings.

WB to fund additional $100m to strengthen vocational education

Bangladesh will receive $100 million additional fund from the World Bank (WB) that will be utilised to scale up its support to strengthen countrys technical and vocational education. A financing has been signed between Economic Relations Division (ERD) and WB. Additional secretary of ERD (WB wing) Kazi Shofiqul Azam and acting country director of WB Dhaka office Martin Rama signed the additional financing agreement on behalf of their respective sides at ERD at Sher-e-Bangla Nagar in the capital. After signing the agreement, Kazi Shafiqul Azam said this financing will enable 200,000 poor students to complete vocational training and diploma courses. He also aid the overall responsibility of the implementation rests with the directorate of technical Education (DTE) as the lead implementation agency while the bureau of Manpower, Employment and Training and Bangladesh Technical education board would implement relevant components. Martin Rama said the project will strengthen technical training institute to improve training quality and employability of diploma and short term training programmes in both public and private institutions and to make the technical and the vocational education training sector more responsive to current and emerging local and global labour market. With this additional financing to the ongoing Skills and Training Enhancement Project (STEP), the WBs total support to the project stands at $179 million, with co-financing of $16.7 million in grants from the government of Canada. The project offers vocational training opportunities that respond to market demand to the poor. To date, more than 110,000 diploma students fromlow-income households have received stipends in 93 polytechnic institutions. In addition, nearly 70,000short-course trainees received free 6-month vocational training in 38 trades including electrical, automotive and garments. Within six months of completing the courses, 42 per cent of the trainees were employed. According to the WB, the additional financing will expand coverage of institutional development grants to public and private polytechnic institutions. With the financing, an increased number of privateand public polytechnics will be able to improveclassrooms and laboratories, and establish industrialpartnerships for internships, job placement and jobcounseling services. The additional financing will scale up the coverage of short-course trainings.