Science and Technology Human Resource Development Project (ADB-50275-002)

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
Approved
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
Aug 30, 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
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)
$ 145.00 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)
$ 145.00 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 16, 2018


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Project Description

According to bank website, "the project will support the government in developing the applied science and technology faculties in four universities to nurture a new breed of technology-oriented graduates equipped with market relevant skills and entrepreneurial spirit. It will address lack of financing for priority degree programs, which are in high demand from students and industry. The project will provide innovative and industry-relevant technology education and research facilities, help quality curriculum design and academic staffing aligned with international standards, and provide competitive grant scheme and capacity development opportunities."

 

Investment Description
  • Asian Development Bank (ADB)
Contact Information

Responsible ADB Officer Song, Gi Soon
Responsible ADB Department South Asia Department
Responsible ADB Division Human and Social Development Division, SARD
Executing Agencies Ministry of Higher Education and Cultural Affairs
18, Ward Place, Colombo 7, 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