WASHINGTON, February 10, 2016 – The World Bank Board of Executive Directors approved today an International Bank for Reconstruction and Development (IBRD) loan of US$100 million to assist the government of Gabon in developing skills and creating employment for youth in the country.
The Skills Development and Employability project aims to accelerate growth, and reduce unemployment and poverty in Gabon. It will address the current skills mismatch evident in the labor market and the low employability of youth by improving and extending vocational training in key growth sectors; supporting skills development to address the needs of unemployed youth (graduates and school-leavers); and provision of entrepreneurship training.
“This project is expected to improve effectiveness of vocational training, skills development, and entrepreneurship programs in key growth sectors in Gabon,” says Sylvie Dossou, Country Manager for Gabon. “And in order to maximize impact, the project will encourage the development and implementation of PPPs” Dossou added.
The Skills Development and Employability project will focus on three components. The first one, Extension of Training Supply and Quality Improvement in Technical and Vocational Education and Training (TVET) will support activities to enhance the effectiveness of vocational training institutions, helping them to improve the overall governance of the system and encourage links with the private sector.
The second, Employability Development, Youth Integration and Entrepreneurship Promotion will target skills and development and entrepreneurship training among unemployed youth.
“Through the expansion of vocational training in key growth sectors, such as ICT, and the upgrading of skills among youth, it will also contribute to the development of workers capable of contributing to the success of ICT-related jobs in Gabon,” says Hamoud Abdel Wedoud Kamil, World Bank Task Team Leader for this project.
The last component, Institutional Capacity Support and Project Implementation will support the institutional strengthening of the Ministry of Vocational Training and Youth Integration, as well as other implementing institutions.