Sri Lanka secures funding for vocational training and solar energy projects

Sri Lanka has secured significant international funding to advance its vocational training systems and renewable energy infrastructure.

The Asian Development Bank (ADB) has approved a $100 million results-based loan to transform the nation’s technical and vocational education and training (TVET) system. Scheduled for implementation between 2027 and 2031, the Skills Development System Transformation Program aims to bridge the gap between employer skill requirements and youth unemployment. The initiative is expected to benefit over 100,000 young people, with a specific focus on increasing female participation in traditionally male-dominated sectors.

In the energy sector, Sri Lanka has secured $57.4 million for a rooftop solar and virtual net metering project. This financing includes a $35 million concessional loan from the ADB, a €15.4 million grant from the European Union, and a $5.5 million grant from the Japan Fund for the Joint Crediting Mechanism. The project, running from 2026 to 2030, will upgrade electricity distribution infrastructure with smart meters and advanced management systems to improve grid reliability and facilitate the installation of 25 megawatts of rooftop solar capacity.