Skills Sector Enhancement Program - Additional Financing (ADB-42251-019)

Countries
  • Sri Lanka
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 28, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Sri Lanka
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 103.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Nov 26, 2018

Disclosed by Bank Sep 7, 2018


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Project Description

According to the bank website, "the Asian Development Bank (ADB) approved the program for $100 million equivalent on 28 March 2014 to support the first phase (2014 2016) of the government's 7-year Skills Sector Development Program (SSDP), 2014 2020. The SSDP aims to build an efficient skills development system to meet labor market demand. The proposed additional financing will enable the government to implement the SSDP through 2020 and add value by scaling up successful program interventions and accelerating the pace of reform initiatives."

 

Investment Description
  • Asian Development Bank (ADB)

Grant 9193-SRI: Skills Sector Enhancement Program - Additional Financing
Japan Fund for Poverty Reduction US$ 3.00 million
Loan 3650-SRI: Skills Sector Enhancement Program - Additional Financing
concessional ordinary capital resources lending / Asian Development Fund US$ 60.00 million
Loan 3651-SRI: Skills Sector Enhancement Program - Additional Financing
Ordinary capital resources US$ 40.00 million 

Contact Information

Responsible ADB Officer Halgamage Don, Sudarshana Anojan Jayasundara
Responsible ADB Department South Asia Department
Responsible ADB Division Sri Lanka Resident Mission
Executing Agencies Ministry of Science, Technology, Research, Skills Development & Vocational Training and Kandyan Heritage
SEC@YOUTHSKILLSMIN.GOV.LK
Nipunatha Piyasa,
No. 354/2, Elvitigala Mawatha,
Colombo 05, Sri Lanka

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main