KPL
The Asian Development Bank (ADB) announced on Friday that it has approved a $36 million financing package to enhance technical and vocational education and training (TVET) in Laos. This initiative aims to equip the country's youth, especially women, with the skills required to meet the demands of a rapidly evolving job market.
The funding will be directed towards modernizing TVET institutions, improving the quality of education, and expanding opportunities for young people entering the workforce. The focus is on providing students with future-ready skills, particularly in sectors that align with Laos' efforts to achieve inclusive and climate-resilient growth.
Laos continues to face significant challenges in youth employment, with a high rate of unemployment and underemployment among young TVET graduates. Many graduates lack the practical, job-ready skills that employers demand, and the country's TVET institutions often operate with outdated equipment and teaching methods.
According to ADB, these gaps have hindered the potential for job creation and economic growth in Laos. By investing in updated facilities, new curriculum offerings, and enhanced training programs, the project seeks to bridge the skills gap and provide young people with better opportunities for stable, quality employment.
ADB's investment is designed not only to improve employability but also to promote long-term economic development in Laos. By aligning TVET programs with the evolving needs of the labor market, the project will help young people acquire the skills needed to succeed in a rapidly changing world.
KPL
