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Friday, October 2 2026
Friday, October 2 2026
MONETABRIEF – Manila-based Asian Development Bank said it had approved 100 million dollars to upgrade technical and vocational education in Sri Lanka to make young people better equipped with skills needed in industry.
"A skilled workforce is essential to Sri Lanka's long-term economic transformation and competitiveness," said ADB Country Director for Sri Lanka Shannon Cowlin said in a statement.
"This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy."
Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation, the ADB said.
Many employers report difficulty finding workers with the skills needed in a changing economy.
A program in line with Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, a nationwide program will be implemented from 2027 to 2031.
It is to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training, the ADB said. (Colombo/Oct01/2026)
| 3 month bill | 9.25% | 5bp ▲ |
| 12-m bill | 9.95% | 2bp ▲ |
| Gold (Ounce) | $4602 | - - |
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