UNICEF and World Bank to Partner For Promoting Education, Skills and Training

The World Bank and UNICEF announced a new commitment to promote education, skills and training for young people in developing countries with the goal of boosting their employment prospects.

The partnership will align $1 billion in World Bank investments with Generation Unlimited, a new global initiative, currently hosted by UNICEF. These investments are a crucial part of the World Bank Group’s Human Capital Project, which is mobilizing countries to deliver more effective investments in people, particularly in young people, as a key pathway to jobs in changing world of work, today.    

Having been launched before six months, Generation Unlimited aims to help prepare the world’s 1.8 billion of the young people for the transition to work and engaged citizenship. It plans to do this by connecting secondary-age education and training to employment and entrepreneurship. This is the largest cohort of young people in history, but many of them are the victims of a global education and training crisis so they are not equipped to enter the work place.

The Chief Executive Officer of the World Bank, Kristalina Georgieva said that as millions of young people enter the workforce in developing countries, it is important for them and the whole world that they can find decent jobs. She went on and added that with the right skills and the right opportunities, it is the young people that can drive global growth and prosperity, but we cannot take this for granted. It is necessary for us to work together to invest in education, training, jobs and entrepreneurship so they can reach their potential.

The possibility of young people being unemployed is almost three times as likely as adults. In the absence of decent jobs and the dignity of work, millions of them will be shut out of global progress toward growth, prosperity and stability.

Linking the secondary-age education and training to employment and entrepreneurship opportunities is at the center of this partnership, so that young people can succeed in a changing world. The financial commitment of the World Bank is expected to focus on:

• Gradually increasing curriculum changes in formal education so that skills and knowledge align with workplace demands;
• Enhancing access to skills programs outside of formal education, including in crisis situations and areas prone to humanitarian emergencies;
• Putting in more efforts to match job-seekers with employment and entrepreneurship opportunities; and  
• Training young people to acquire flexibility and problem-solving skills they will need to succeed as engaged citizens in the new world of work.

By: Preeti Narula

Content: https://www.unicef.org/press-releases/world-bank-and-unicef-partner-promote-education-skills-and-training-young-people