Business and Economics
ADB lends US$ 400 mn to boost Philippines’ Youth Employment

Manila: The Asian Development Bank (ADB) has approved a $400 million policy-based loan to support the Philippine government’s efforts to reduce the number of out-of-school and unemployed young Filipinos—one of the factors impeding more inclusive growth in the country.

The Facilitating Youth School-to-Work Transition Program, subprogram 2, supports government reforms aimed at improving the employability of young Filipinos through labor market programs and providing easier access to on-the-job training schemes to help them secure and retain jobs.

The program builds on ADB’s previous support to the government’s employment initiatives, particularly the Department of Labor and Employment’s design and roll out of the Jobstart Philippines Program, a full-cycle youth employment facilitation program that has become law with adequate government funding.

Sampath Bank partners Singer Lifestyle Fiesta

Continuing to support events that add value to consumers’ lives, Sampath Bank stepped in as the official Banking and Credit Card partner of the Singer Lifestyle Fiesta Exhibition and Fun Fair 2019 which was held at the BMICH recently.

The Bank partnered the event for the 7th consecutive year. The annual event saw Singer Sri Lanka offers deals on over 2,500 products from over 50 world famous brands.

SampathCards enriched these deals further by offering up to 40 months 0% interest installment plans exclusively for Sampath Credit Cardholders.

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Sri Lanka plans to roll out its first structured promotional campaign

After repeated delays in the past years, Sri Lanka will finally roll out its first structured promotional campaign to uplift the tourism industry, Kimarli Fernando, Chairperson of Sri Lanka Tourism Development Authority said.

“We as a government will be going ahead with various promotional campaigns which have been delayed for 4 - 5 years. Going forward we have already set up the action plans to get the promotional campaigns going, which would assist the French-speaking market as well,” Fernando, said whilst addressing a media conference in Colombo today (21).

The conference was held in the presence of Chandra Wickramasinghe, the Chairman and Managing Director of Connaissance de Ceylan and Theme Resorts & Spas, State Minister of Tourism Promotion Affairs and Aviation, Arundika Fernando, Michelle Salaün, the Chairman of Salaün Holidays.

“Sri Lanka never had a structured promotional campaign. We have to accept that. The conservative government really has never had it. This whole thing came into a lot of criticism only after the 21st of April. But in reality, we never had one proper 3 - 5 year plan,” Fernando stressed.

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