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

Countries
  • Sri Lanka
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 28, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Sri Lanka
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 103.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ ADB website

Updated in EWS Nov 26, 2018

Disclosed by Bank Sep 7, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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
Here you can find a list of individual development financial institutions that finance the project.

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
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

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

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