TEVTA Interest Free Loan Scheme announced

TEVTA Interest Free Loan Scheme announced as per The chairperson of Technical Education and Vocational Training Authority (TEVTA) Irfan Qaiser Sheikh has said that if Asian Development Bank (ADB) will provide a loan of $50 million to $70 million on simple and easy terms & conditions, then TEVTA will provide interest-free loan to its brilliant graduates so that they will be able to start their own business.

Further, all the TEVTA institutes will also be converted on Solar Energy Technology. A 5-member delegation of Asian Development Bank visited the TEVTA secretariat and institute.

TEVTA asks Asian Development Bank for $50 million to give interest-free loans to its graduates. The 5-member delegation of ADB visited the classrooms of Chinese Language, Information technology, mobile repairing, and hospitality as well as others.

The delegation consists of Advisor to Vice President ADB Chen Chen, Country Director PRM Zaihong Yang, Principal Education Specialist Norman LaRocque, economist Farzana Noshab and Social Sector Specialist Munir Abro.

Technical Education and Vocational Training Authority (TEVTA) Chairman Irfan Qaiser Sheikh has said Asian Development Bank (ADB) will provide a loan of $50-70 million to the graduates of the vocational institute to help start their own businesses.

The TEVTA chairman said this after the visit of an ABD delegation on Wednesday. The five-member delegation of ADB visited the TEVTA secretariat and institute. The delegation visited the class rooms of Chinese language, IT, mobile repairing, hospitality and others. It comprised of Adviser to Vice President ADB Chen Chen, Country Director PRM Zaihong Yang, Principal Education Specialist Norman LaRocque, economist Farzana Noshab and Social Sector Specialist Munir Abro.

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Irfan said the ADB would provide a loan of $50-70 million on relaxed conditions with which TEVTA would facilitate its graduates so that they could start their own businesses. He also announced that all TEVTA institutes would be converted to solar energy technology.

Later, while briefing the media, Irfan Qaiser sheikh said the World Bank has also provided $50 million loan to TEVTA. “We have provided skills to more than 200,000 students in a year, now there is a need to empower them by providing interest-free loans,” he added. The markup on the loans would be borne by TEVTA, he said.

TEVTA Interest Free Loan SchemeTEVTA Interest Free Loan Scheme announced

He told the ADB vice president that TEVTA’s focus was short courses because a six month course could provide reasonable earning to both male and female students. He said TEVTA had hired international master trainers in order to increase the quality of education at its institutes.

Irfan told the vice president that TEVTA was offering latest and updated courses to students and would continue to add more courses in context of China Pakistan Economic Corridor (CPEC). “These courses included Chinese language, hospitality management, construction, industry, automobile, IT, security, beautician, financial market and many other areas which attract thousands of students,” he said.

In order to provide access to international market for its students, TEVTA had also started several courses in collaboration with several multinational organizations.

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