Financial Assistance

In pursuing for quality and relevance of the training, the TVEC has introduced two financial assistance schemes for both public and private sector institutions.

Ø Financial Assistance for Public Sector Training Institutions

Ø Financial Assistance for Private and NGO Sector Training Institutions

Financial Assistance for Public Sector Training Institutions:

The TVEC has been preparing Vocational Education and Training (VET) plans for growing industry sectors since 1999. The purpose of this initiative is to focus training efforts by all public sector training agencies in a coordinated manner to meet the human resource needs of the growing industry sectors of the economy.

The Commission invites proposals from relevant training institutes in the public sector for the implementation of identified VET plan activities. The three institutions were granted the financial assistance for implementation of identified VET plan activities in the year 2004 after carefully examining the relevance of the proposals as follows.

Details of Public Sector Training Institutes which received Financial Assistance for Implementation of VET Plan activities -2004

Institute	Training Programme	Item requested	Relevant Vet Plan	Amount Recommended Rs
NAITA T.T.I	NDES - Course-Electrical Engineering	2 nos Digital Oscilloscope	Electrical	200,000
NAITA-A.T.I	Machinist	Repairs of CNC Milling Machine	Automobile Repair and Maintenance Industry	1500,000
NAITA-Sri Saranankara ATC Baddegama	Electronics and Electrical	Training Equipments for Electrical & Electronics	Electrical & Electronics	300,000
VTA DVTC-Anuradhapura,	Automotive Mechanic Course	Machinery, Cut away models, and tools and accessories	Automobile Repair and Maintenance Industry	1,000,000
VTA-NVTC, Niyagama	Automotive Mechanic Course Air Conditioning & Refrigeration Course	Machinery and Equipments For Automotive & A.C & Ref Courses	Automobile Repair and Maintenance Industry	500,000
DTET Homagama Technical Colege	Refrigeration & Air Conditioning	Which were not purchased in 2003	Construction/ Metal & Light Engineering	1,000,000
Total				4,500,000

Financial Assistance for Private and NGO Sector Training Institutions:

Even though the government plays a major role in providing skills to youth through institutional training, the private and NGO sector training institutions are also involved in skills training thus improving the access to training in rural and urban areas. While considering the important role played by the private and NGO sector institutions in skills training, the government has been providing allocations to provide grants to these institutions with a view to help improve the quality, relevance and the effectiveness of training.

The objective of this financial assistance scheme is to upgrade training institutions in the private and non-governmental organizations (NGO) sector to a higher professional level by enhancing capacities and commitment to improve quality and relevance of existing training programmes and / or to commence new training programmes that could provide required skills and knowledge needed by the industry.

Procedure for selection:

Eligibility Criteria:

The institutions will be selected on the basis of the following criteria.

The location of institutions should be accessible through public transportation and should have infrastructure facilities such as electricity, water, land etc adequate for further expansion to meet the demands in the future.

Mode of Payment:

The financial grant will be awarded to the recipient institution on the basis of reimbursement of cost incurred in procurement of capital items.

Training Plan:

Applicants should submit a detailed training plan inclusive of course details, output targets, income and expenditure plan (business plan) etc. for a period of 5 years.

Amount of Assistance:

A group consisting of experts in respective sectors of training will decide the amount of assistance after evaluation of each proposal.

FINANCIAL ASSISTANCE TO TRAINING INSTITUTES IN THE PRIVATE/NGO SECTOR
FOR TECHNICAL EDUCATION AND VOCATIONAL TRAINING - 2004
Serial	Name & Address of the Institute	Owner-	Training Programme	Estimated	Total Amount
No.		ship		Cost (Rs.)	granted (Rs.)
1	YMBA-Vocational Training Institute	NGO	Motor Mechanism	33480.00
	Sarana Mawatha		Metal Fitting/ Lathe Machine	67987.50
	Rajagiriya		Electrical	64400.00
			Total	165867.50
			Deduct 30% Institute Contribution	49760.25	116107.25

2	YMBA-Vocational Training Institute	NGO	Electrical	27650.00
	Divulapitiya		Machine/ Fitting	449000.00
			Carpentry	13500.00
			Automobile	50000.00
			Teaching Aids	32500.00
			Total	572650.00
			Deduct 30% Institute Contribution	171795.00	400855.00


3	St. Joseph's Technical Institute	Pvt	Welding	185950.00
	345, Power House Rd		Total	185950.00
	Trincomalee		Less 30% Institute Contribution	55785.00	130165.00


4	Sri Gangarama Vocational Training Institute	Pvt	Gemmoloy	209250.00
	Sri Gangaramaya, Kumbukkana		Jewellery Making	70000.00
	Monaragala		Total	279250.00
			Less 30% Institute Contribution	83775.00	195475.00
5	Explore International Hotel School	Pvt	International Cookery	112570.00
	16 B, Wackwella Rd, Galle		Total	112570.00
			Less 30% Institute Contribution	33771.00	78799.00

6	Sri Sobhith Vocational Training Centre	NGO	Masonry	223771.50
	Samadhi Nikethana Budhhist Centre		Total	223771.50
	Diyakobala, Bibila		Less 30% Institute Contribution	67131.45	156640.05

7	USCOD Centre, St Bede's Home	Pvt	Electronic Course	80850.00