The assistance is under the third and last tranche of the ongoing Skills for Employment Investment Program (SEIP) in providing market-responsive skill training through partnerships with public institutes, industry associations and other organisations, covering skill requirements in 10 industry sectors.
Economic Relations Division (ERD) Secretary Monowar Ahmed and ADB Country Director Manmohan Parkash signed the agreements on behalf of Bangladesh and the ADB respectively.
Lauding Bangladesh for its first-paced economic development, Country Director Parkash said this is a flagship ADB programme for providing market responsive inclusive skill training in emerging trades and strengthening institutions like National Skills Development Authority and the National Human Resource Development Fund.
“Skilling to improve human capital is critical for Bangladesh in becoming a developed nation by 2041,” he said.
The ADB Country Director said Bangladesh can further boost its economy by skilling the workforce; and increase its inward remittance many folds by exporting skilled workers. “The assistance will introduce selected advanced courses to adopt and adapt emerging Industry 4.0 skill requirements and help industries move up the value chain.”
Overall, the project will train about 320,000 people, 30 percent of whom will be women. It will support new training specifically targeted at socially disadvantaged groups, including people with disabilities, and women entrepreneurs to ensure inclusive skilling efforts.