NewsWhore
10-05-2006, 03:10 PM
The Senate has approved a US$10 million loan from the Inter-American Development Bank (IDB) to fund labor development projects in the informal sector. The loan is intended to help aid work projects for people between the ages of 16 and 29 who aren't currently working, are not high school graduates, or aren't currently enrolled in high school. According to the IDB, the project aims "to support the establishment of a national employment system, job training for young people and strengthening the mechanisms to deliver social assistance to the poorest and most vulnerable households". The Ministry of Labor and the Vice President's office, through the Social Cabinet's Technical Executive Directorate, will manage the first phase of the project.
The project hopes to train youth workers, strengthen the National System of Beneficiaries and finance technical assistance to improve their operations, in order to "fine-tune the methodology for selecting beneficiaries for social programs." The loan is for a 25-year term, with a 3.5-year grace period, and a variable interest rate. The IDB could eventually consider granting a $30 million loan for a second phase of the program.
For the full IDB report:
http://www.iadb.org/NEWS/articledetail.cfm?Language=En&parid=2&artType=PR&artid=2537
More... (http://www.dr1.com/index.html#1)
The project hopes to train youth workers, strengthen the National System of Beneficiaries and finance technical assistance to improve their operations, in order to "fine-tune the methodology for selecting beneficiaries for social programs." The loan is for a 25-year term, with a 3.5-year grace period, and a variable interest rate. The IDB could eventually consider granting a $30 million loan for a second phase of the program.
For the full IDB report:
http://www.iadb.org/NEWS/articledetail.cfm?Language=En&parid=2&artType=PR&artid=2537
More... (http://www.dr1.com/index.html#1)