The World Bank, Tuesday, approved a US$ 40.3 mn credit line to re-structure Sri Lankas tertiary education sector.
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The no-interest credit line from the International Development Association (IDA) will be spread over 40 years with a ten-year grace period. rn
rnThe government will fund the balance project cost of US$ 10.7 mn.rn
rnThe project to improve the relevance and quality of undergraduate education, is being rolled out proper in August.rn
rnldblquote The overall goal is to re-direct Sri Lankas tertiary education sector towards one which can effectively support economic and social development dblquote , a World Bank release said. rn
rnThe project tries to build capacity of tertiary institutions, improving the calibre and employability of graduates that they produce.rn
rnldblquote The creation of high quality workforce will be a vital factor in realizing the Governments Poverty Reduction strategy dblquote , said World Bank Country Director Peter Harrold.rn
rnAs a first step, a