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Loan to boost vocational training reforms

The Asian Development Bank on Tuesday announced a loan equivalent to $25 million to Kyrgyzstan to improve its vocational training system - a critical reform to address unemployment and to meet the needs of a market economy, according to the ADB. The Kyrgyz Government was faced with the immediate problem of overcoming increasing poverty and unemployment, and the medium and long-term concern of providing skills for the labour force for economic development, an Asian Development Bank [ADB] report stated. “The project will support about 10,000 graduates annually to get a job, even start their own business, and eventually break away from the poverty cycle experienced by their families,” said Manuel Perlas, a senior project economist with ADB. The project is intended to improve vocational training during the final two years of basic education and to encourage older students to start their own businesses. In launching it, ADB called for participation by industry, NGOs and other private sectors to encourage entrepreneurship. Disadvantaged groups and teenagers out of school would be targeted through outreach programmes, it said. The initiative also aims to develop a micro-credit fund to assist start-up entrepreneurs trained by the project, and to establish labour market analysis to better link basic education programmes to market demand.

This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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