FUNDS FOR TECHNICAL EDUCATION
The OPEC Fund for International Development (OFID) agreed to provide a US$ 50 million loan to support an initiative to construct technical laboratories, and provide machinery and equipment to schools.
In an effort to align the workforce with emerging technologies and changing demand for skills, the Ministry of Education aims to provide the required infrastructure facilities and equipment with modern technology for practical activities. The project is expected to cost 60.7 million dollars with the remaining funds being provided by the Government of Sri Lanka.
OFID has also provided financial assistance in implementing a number of strategically important development projects over the past two decades, and currently provides financing for the road and irrigation sectors.