Recognizing the high youth unemployment in
The grant through the
The project will open new career prospects for skilled employment that is critical to sustain growth in a middle income country.
Granting the credit, despite a large number of educated young workers,
The overall unemployment rate declined from 9% in 2000 to 4% in 2012, about 20% of 15 to 24 years were still unemployed in 2012.
The current challenges of the labor market that the project seeks to address, World Bank Country Director for
This Project supports the Skills Sector Development Program (SSDP) launched by the Government of
The SSDP aims to establish skills education system to meet the local and foreign labor market demand by 2020.
The Project is structured around 2 components, Program Support to the SSDP and Innovation, Results Monitoring, and
The Sri Lankan government signed an agreement with the
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