Asian Development Bank (ADB) is likely to release $27 million for restructuring of technical education and vocational training institutions in NWFP and Balochistan. Sources told Business Recorder that the loan agreement was signed in March 2005, while the project was approved in December 2002.
It is learnt that Executive Committee of National Economic Council (Ecnec) had approved the project in its last meeting.
Now it will be sent to the ADB for release of loan, which was pending due to non-fulfilment of some requirements by the provinces after signing of the agreement. It is learnt that $16 million would be utilised in six districts of the NWFP including Peshawar, Nowshera, Mardan, Swabi, Swat Mansehra and $11 million would be spent almost in all the districts of Balochistan.
The project would be completed by June 2010, the sources added. The objectives of this technical loan are poverty reduction through technical education; strengthening institutional capacity; autonomy of technical institutions; improving quality of data and evaluation system.