(Jamaica Gleaner) With youth unemployment still a major social concern facing the region, the Caribbean Development Bank (CDB) has strategically been lending money to countries to set up technical and vocational education and training (TVET) centres in an effort to build workforce capacity.
The average unemployment rate across Latin America and the Caribbean stood at approximately 17.9 per cent in 2018, according to the International Labour Organization.
CDB Vice-President of Operations Monica La Bennett said that TVET offered opportunities for people to be self-employed.
“Education and training is a huge focus for the bank, and it is a place where we can intervene. We can work with countries and say, ‘Let us look at TVET because TVET addresses directly some of the issues of youth unemployment and youth employability’.
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