In a bid to boost employment prospects of young people in developing countries, the World Bank and the United Nations Children’s Fund (UNICEF) have agreed to promote the education, skills and training with a $1 billion in World Bank investments with Generation Unlimited.
The investments, according to information available on UNICEF website, are also an important component of the World Bank Group’s Human Capital Project, which is mobilising countries to deliver more effective investments, especially in young people as a key pathway to jobs in today’s changing world of work.
Generation Unlimited, a new global initiative, currently hosted by UNICEF was launched just more than six months ago to help prepare the world’s 1.8 billion young people for the transition to work and engaged citizenship, by connecting secondary-age education and training to employment and entrepreneurship.
Chief Executive Officer of the World Bank, Kristalina Georgieva said that a large number of young people are the victims of global education and training crisis and are not equipped to enter the workplace. Without decent jobs and the dignity of work, millions of them will be shut out of global progress toward growth, prosperity and stability.
Georgieva said: “As millions of young people enter the workforce in developing countries, it matters to them and to the whole world that they can find decent jobs.
“With the right skills and the right opportunities, young people can drive global growth and prosperity, but we cannot take this for granted. We must work together to invest in education, training, jobs and entrepreneurship so they can reach their potential.”
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UNICEF Executive Director, Henrietta Fore, also said: “Let’s increase investment in young people now, by transforming education systems and scaling up skills training. We need to open up opportunities to the futures of millions of young people.
“Through this World Bank and UNICEF collaboration, Generation Unlimited can help support this transformation and create a skilled cohort of young people better prepared to form flourishing economies and peaceful and prosperous societies.”
Tribune Online gathered that the core of the partnership is connecting secondary-age education and training to employment and entrepreneurship opportunities so that young people can succeed in a changing world.
The World Bank’s financial commitment is expected to focus on: Accelerating curriculum changes in formal education so that skills and knowledge align with workplace demands, improving access to skills programs outside of formal education, including in crisis situations and areas prone to humanitarian emergencies, stepping up efforts to match job-seekers with employment and entrepreneurship opportunities and equipping young people with the flexibility and problem-solving skills they will need to succeed as engaged citizens in the new world of work.
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