NewsWhore
07-21-2011, 03:10 PM
The Inter-American Development Bank (IDB) has approved a loan for US$20 million to support the Ministry of Labor's National Employment System (NES). The key component of the project is its third generation of the Youth and Employment Program, which will benefit 24,000 socially vulnerable young people at an expected employment rate of at least 80% after the completion of the program. The program will provide entrepreneurship training, life skills training and incorporate practical technical-vocational skill training for sectors such as trading services and hotels and restaurants. The initiative is aimed at poor at-risk youth between the ages of 16 and 29, who are out of school and lack a regular job.
The unemployment rate among young people (aged 18-29) in the Dominican Republic is at 34 percent, more than doubling the rate for adults. Job quality is also an important issue among young people because most are mainly employed in the informal sector, where wages are low and opportunities for further development and training practically non-existent.
The IDB loan is granted for a term of 25 years to be disbursed in 5 years with a grace period of 5 years and an interest rate based on LIBOR. Local government counterpart funds totals $2 million.
More... (http://www.dr1.com/index.html#5)
The unemployment rate among young people (aged 18-29) in the Dominican Republic is at 34 percent, more than doubling the rate for adults. Job quality is also an important issue among young people because most are mainly employed in the informal sector, where wages are low and opportunities for further development and training practically non-existent.
The IDB loan is granted for a term of 25 years to be disbursed in 5 years with a grace period of 5 years and an interest rate based on LIBOR. Local government counterpart funds totals $2 million.
More... (http://www.dr1.com/index.html#5)