Accelerating and Strengthening Skills for Economic Transformation (ASSET) Project

Accelerating and Strengthening Skills for Economic Transformation (ASSET) Project The government has been emphasizing to improve quality and diverse required skills. Adequate up-gradation to technological changes is essential as low efficiency leads to low labour productivity. The trend of job creation in the industry and service sector is changing rapidly with huge demand for reskilling. To accelerate and strengthen skills to generate employment for workforce and disadvantageous people Government of Bangladesh with the Support of the World Bank has been started the largest foreign aided project in technical education sector named “Accelerating and Strengthening Skills for Economic Transformation (ASSET) Project” for the Ministry of Education (TMED), Ministry of Expatriates' Welfare and Overseas Employment (BMET), Ministry of Health and Family Welfare (DGH) and Ministry of Industries. As a developing country intends to reach at the middle-income country by 2041 through maintaining consistent economy growth. This initiative will accelerate poverty reduction movement during the stage of 4th Industrial revolution. To this end, this project will strengthen institutional infrastructures and provides trainings to meet industry demand for required skills. ASSET Project will be implemented within stipulated time of 2021 to 2026 with a budget of BDT 429,999.55 Lakh. Objectives of ASSET The Project Development Objective is to equip Bangladeshi youth and workers, including women and the disadvantaged, with skills demanded for the future of work and improved employment prospects.