The Asian Development Bank (ADB) and the Government of Bangladesh have finalized a loan agreement worth $150 million aimed at enhancing decent employment opportunities, boosting competitiveness in the global market, and advancing technical and vocational education and training (TVET) within the nation.

On Sunday (August 3), ERD Secretary Shahriar Quader Siddiqui and ADB Country Director Ho Yun Jeong signed the agreement on behalf of the government during a ceremony held at the Economic Relations Department (ERD) building in Dhaka.

The agreement will facilitate the implementation of the Technical and Vocational Education and Training (TVET) Teachers for the Future Program. This initiative aims to expand modern teacher training opportunities beyond Dhaka, particularly in underdeveloped regions. It will also enhance teachers’ instructional skills and technical knowledge in emerging technologies, while strengthening the management and reporting systems for teachers.

According to the ADB Country Director, the program will concentrate on five key technology clusters that align with the country’s economic diversification goals—mechanical, electronics and electrical, information and communication technology (ICT), civil, and food and agriculture. It will be executed in accordance with the government’s Integrated TVET Development Action Plan (ITDAP).

Upon completion of the program, the skills of at least 10,000 new and existing TVET teachers will be improved, positively affecting over 250,000 students. Furthermore, a national system for continuous professional development will be established throughout the country to ensure the long-term quality and relevance of TVET.

ADB is committed to promoting inclusive and sustainable growth in the Asia and Pacific region. Founded in 1966, the development bank is currently owned by 69 countries, with 50 of those located in the region.