World Bank credit of US$ 100 million to Sri Lanka school education project

Oct 20, Colombo: The Sri Lankan government is to enter into a financial agreement with the World Bank to receive a US$ 100 million credit to implement a five-year project to establish primary and secondary schools to transform the school education system.

The Cabinet Wednesday approved a proposal made by President Mahinda Rajapaksa, in his capacity as the Minister of Finance and Planning to enter into a financial agreement with the International Development Association of the World Bank to obtain a credit of US$ 100 million to implement the Education Sector Development Framework and program 2012- 2016, the government said.

Under the project, the government plans to establish 4,000 well performing primary feeder school networks linking 1,000 secondary school programs to ensure the students’ acquisition of cognitive and soft skills which are demanded by the future knowledge based economy.

The government has identified 320 secondary schools and 1,200 primary schools for development in 2012 in association with the Provincial Councils. The remaining target of schools will be developed within a period of five years.

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