New Delhi: The Asian Development Bank (ADB) has approved a $25 million policy-based loan to support efforts to enhance the quality and accessibility of vocational education and training (VET) in Georgia. The loan, equivalent to 68,198,000 lari, marks the ADB’s first local currency sovereign loan in Georgia. ADB’s support aligns with the country’s debt management strategy, which aims to increase local currency-denominated debt in public debt, bolster the economy’s resilience to external shocks, and promote sustainable growth, a press release stated.
This financing is part of the Asian Development Bank’s Modern Skills for Better Jobs Sector Development Program, Subprogram 2. This program seeks to improve the quality and relevance of VET in priority economic sectors, expand access to the program, and encourage private sector involvement in enhancing the relevance of VET programs and curricula.
Subprogram 2 builds upon the successes of Subprogram 1, which was approved in 2020. The first subprogram streamlined VET admissions procedures, modernized the regulatory framework for adult education, and expanded government-funded voucher programs for private VET providers. Subprogram 1 also resulted in increased salaries for VET teachers, the development of the “skills hubs” concept, and the piloting of public-private partnerships in VET.
“We see promising results of the government’s policy actions in increased VET enrollment and historic low unemployment rate, and ADB is committed to continuing to support Georgia’s education reforms,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “By improving the quality and relevance of the VET programs, we aim to increase the employability of young people and adults while also fostering local economic development through better skilled labor.”
Georgia has taken significant steps to enhance the quality and relevance of VET. These include the adoption of the VET Strategy of Georgia for 2024–2030, which incorporates gender and climate considerations, and the approval of a new VET teachers’ qualifications framework that establishes professional standards, development, and career progression pathways to attract and retain qualified educators. The program has fostered partnerships between the VET sector and industry, overseen by the newly established Skills Agency of Georgia, which is governed by an independent supervisory board with equal public and private representation.