The Board of Directors of the Asian Development Bank (ADB) has approved $145 million in loans to develop new applied science and technology programs in four Sri Lankan universities.

Higher education opportunities as a whole are limited, with the gross enrolment rate at less than 19%—much less than the 50% average for upper middle-income countries. Moreover, less than 20% of graduates are from science and engineering subjects. The shortage of researchers and qualified academic staff were also addressed, and it was stated that new degrees will be created using industry advice and international benchmarks.

The total project cost is $165 million, of which the government will be providing $20 million and is due for completion at the end of 2023.

The ADB funds will go towards developing technology faculties in Kelaniya, Rajarata and Sabaragamuwa Universities and establish an engineering faculty in the Sri Jayawardenepura University.

The project will also construct faculty buildings following green building standards, ensuring they are climate-proofed, well equipped with laboratories, and offer flexible spaces for different kinds of research and learning as well as facilities that help integrate female students and staff, such as day-care centres.

The government with a vision to transform Sri Lanka into an educational hub has taken a number of steps to develop and raise the standards of its state universities. These infrastructural developments to the universities would no doubt help transform them into those on par with international universities.

A suggested PPP (Public Private Partnerships) model in the Vision 2025 is to have international universities in Sri Lanka, as these will cater to knowledge economy, improve university driven R&D, and promote links to global industries for practical training.

If you wish to obtain further information on latest market developments in Sri Lanka, please write to Nishika Hassim - Manager Higher Education and International Education Services at Nishika.Hassim@britishcouncil.org