ADB approves $100mn loan to improve skills training in Pakistan

The Asian Development Bank (ADB) on Tuesday approved a $100 million loan to help improve technical and vocational education and training (TVET) in Punjab and ensure skills training meets job demand in important economic sectors.

A press release issued by the ADB said that the “Improving Workforce Readiness in Punjab Project” will help enhance TVET’s quality and relevance to increase “graduates’ employability, upgrade workers’ skills, ensure more equitable access to training for women and disadvantaged groups, and improve management and strategic planning in TVET institutions”.

Flood relief: ADB approves $554mn financing package

“They (the centres) will provide programmes with linkages to industry and deploy best practices. The project will include the development of skills training programmes using technology in response to emerging trends in the fourth industrial revolution,” the press release reads.

It further said that disaster resilience would be incorporated into the design of the excellence centres.

“Workers with improved skills in key areas such as construction and agriculture will be essential to implementing stronger safety standards, build back better and to help the country prepare for future natural hazards,” the press release quoted ADB Director for Social Sectors Rie Hiraoka as saying.

The development comes a day after the ADB approved a $554 million financing package for Pakistan, including new and reallocated funds, to support recovery and reconstruction efforts following this year’s devastating floods.

The Manila-based lender on Monday said in a statement that the funding would also be utilised to strengthen Pakistan’s disaster and climate resilience.

“The financing, which includes a $475 million loan and a $3 million technical assistance grant from the Asian Development Bank (ADB), and a $5 million grant from the Government of Japan, will support the restoration of irrigation, drainage, flood risk management, on-farm water management, and transport infrastructure in the flood-affected provinces of Balochistan, Khyber Pakhtunkhwa, and Sindh,” read the statement.

ADB’s Emergency Flood Assistance Project will also incorporate climate and disaster resilience measures into the design of the infrastructure. The lender has also repurposed an additional $71 million from existing loans to support the government’s flood-response efforts.

“This year’s floods, which affected 33 million people and brought enormous damage to infrastructure and agriculture, are a devastating reminder of Pakistan’s acute vulnerability to climate change,” said ADB Director General for Central and West Asia Yevgeniy Zhukov.

“This project will help to rebuild critical infrastructure in affected areas and restore rural livelihoods,” he said.