By RNA Reporter Wednesday, 30 March 2011
Kigali: Rwanda’s skills development Tuesday obtained an approval of US$30 million (estimated 18 billion Rwandan francs) from the World Bank to boost more skilled workforce mainly the modernization of vocational training in the country, RNA reveals.
While Rwanda suffers an overall skills gap increase in demand for skilled workers is expected with the growing of manufacturing and services sector. The service sector has become more important to the economy, last year it accounted for 60 percent of GDP.
Announcing the financing, the World Bank Country Manager for Rwanda, Omowunmi Ladipo said, “we are delighted to support Rwanda’s effort to invest in people—especially youth—by helping them acquire skills that will find use in a modern economy.”
“This is essential for sustained economic growth and competitiveness, particularly as Rwanda strives to realize its vision of becoming a middle-income economy by 2020,” added the Country Manager.
The World Bank has already indicated that government spends donor dollars with care, last month another funding was approved for government to invest in creating jobs and increasing exports – all aimed at reducing poverty.
Plans for the skills development project intends to support people developing skills that are in urgent demand, particularly in the hospitality, tourism, and construction sectors.
The project will also engage the private sector in conducting technical and vocational education and training. A pilot will as well be established to provide financing for the rapid delivery of high-priority skills through competitive sub-grants ranging from US$10,000 to $100,000. (End)