The Inter-American Development Bank (IDB), the Federal Ministry for Economic Cooperation and Development of Germany (BMZ) and the Swiss Agency for Development and Cooperation (SDC) have launched a new multi-donor fund of US$13 million that aims to transform VET in Latin America and the Caribbean (LAC). The grant contribution will help countries in the region to consolidate modern skills ecosystems and to prepare their citizens to successfully face the challenges of the future of work and the Fourth Industrial Revolution.
The objective of this multi-donor trust fund is to accelerate the transformation of TVET in LAC by promoting private sector involvement and incorporating the most successful international experiences into the LAC context. It will promote the creation of modern, private sector led training ecosystems that will endow individuals with the skills needed for successful lifelong learning and labor trajectories.
DC dVET To Provide Dual VET Expertise
As both, BMZ and SDC are members of the DC dVET, the Committee is intended to support the multi-donor fund by providing its expertise on questions related to dual VET.