Press briefing of Cabinet Decision taken on 2018-07-03

Securing funds for the implementation of the Science and Technology Human Resource Development Project

- The Government has decided to focus more on science and technology education to meet the evolving demands of the economy for human resource with knowledge on technology and innovation. For this purpose, the Government has planned to implement the Science and Technology Human Resource Development Project at a total investment of US$ 165 million. Under this project, 03 technological faculties at the Universities of Kelaniya, Rajarata and Sabaragamuwa as well as an Engineering Faculty at the University of Sri Jayewardenapura will be established. Through this, it is expected to orient graduates with extensive knowledge on modern technology and interest on entrepreneurship and equipped skills to suit the present labour market. Accordingly, the proposal made by Hon. Ranil Wickremasinghe, the Prime Minister in his capacity as the Minister of National Policies and Economic Affairs, to take appropriate action to obtain the foreign funds of US$ 145 million required for the implementation of the project, from the Asian Development Bank, was approved by the Cabinet.