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| Saturday, 26 July 2003 |
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The International Development Association (IDA) of the World Bank has agreed to provide a loan of US$ 40.3 mn (approximately Rs. 3889 mn) to finance the "Improving Relevance and the Quality of Undergraduate Education Project". The total project cost is about US $ 51 mn (approximately Rs. 4921 mn) including the government contribution of US $ 10.7 mn (approximately Rs. 1032 mn) The project will support the Government's long-term Tertiary Education Reform Programme by enhancing institutional capacities to achieve greater relevance and quality in Undergraduate Programmes and also building human capital which is one of the key factors in poverty reduction, a press release from the Finance Ministry said. The main components of this project are: (i) Building institutional capacity in the Tertiary Education system, (ii) Improving Relevance and quality of Tertiary Education by establishing a quality enhancement fund to allocate resources to improve undergraduate degree study programmes in public and private universities, and (iii) Establishing the "Tharuna Aruna - Programme 2" to support training initiatives that lead to more appropriate and productive employment for currently unemployed graduates. The project is expected to benefit the students by: (a) enhancing the quality of teaching, (b) improving access to modern learning resources such as computers, laboratory material and library facilities; (c) increasing the range of market-oriented courses; (d) expanding the availability of places in private institutions, and (e) enhancing employability potential of graduates. The project would assist universities to initiate activities that address cultural diversity and assist universities to facilitate access and participation of physically disabled students. The academic staff of universities will be benefited by providing them with opportunities for staff development through postgraduate degree programs, exchange fellowships and study visits; improving their working conditions through investments in information and communications technology, equipment and academic literature, and enhancing professional opportunities through consulting and business linkages with industries. The professional staff in the MTE & T, the UGC and the universities will also be supported by enhancing access to new technologies and technical resources, and providing opportunities for additional training. The project is expected to contribute to broad economic and social benefits including greater labour market relevance of undergraduate degree programs. The unemployed graduates will be benefited through the intensive training in English. IT-skills and job acquirement skills. The private sector is expected to benefit from a greater pool of well trained graduates with a more positive orientation towards a career in the private sector. The Project Agreement was signed yesterday by Country Director of the World Bank Peter Harrold, Secretary, Ministry of Finance J. Charitha Ratwatte, on behalf of the World Bank and the GOSL respectively. |
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