KfW Development Bank is both an experienced bank and an institution specialising in developmental policy. We help our partners to fight poverty, maintain peace, protect the environment and shape globalisation in an appropriate way.
KfW was seeking for feasible and effective options of financial cooperation to accelerate improvements in the VET system, complementary to existing measures of technical cooperation. The assigned Consultant provided an assessment of alternative FC options (grants, loans, combined grant& loans) which lead two proposed options: one conservative and one innovative and KfW decided for innovative one, i.e:
Running competitive funding programme (Challenge Fund) to
- Enhance performance capacity of public VET institutions- by providing funds for equipment and capacity building
- Promote cooperation of local VET institutes with local companies-as mandatory for receiving funding
- Promote innovative, demand-oriented and forward-looking educational programmes by a broadly based competition for a large pool of ideas and include stakeholders with strong innovation capacity