Rwanda and India Exim Bank ink $81 million deal to fund TVET
25-05-2017 16:33:44 | by: Bob Koigi | hits: 5834 | Tags:

The government of Rwanda and India Export Import Bank have signed a financing agreement worth $ 81 Million to support the establishment of integrated Technical Vocational Educational and Training (TVET) system. This, through construction of modern training and production workshops including equipment for ten new vocational training centers and four business incubation centers.

The financing agreement signed on the sidelines on the ongoing Africa Development Bank Annual Meetings in India will scale-up and support ongoing government efforts to improve quality of technical education and enhancing existing capabilities of institutions to become dynamic, demand-driven, quality conscious, efficient, forward looking and responsive to rapid economic and technological developments.

Minister of finance and economic planning Claver Gatete said that technical skills have a crucial role in attaining increased output, reducing unemployment, poverty and enhancing social development in Rwanda. 

“Rwanda’s industrial base is growing but it does not match skills available in the country. It is important that we address the skills gap to ensure that the economy continues to grow and remain competitive,” Minister Gatete said.

Recent skills audit conducted indicated that there are significant technical and vocational skills deficiencies to meet the current labor market demand. Filling these skill gaps in the economy will be crucial to the realization of Vision 2020 and EDPRS2. In order to address this government set a national target of creating 200 thousands off-farms new jobs on annually.

www.minecofin.gov.rw

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