NaslovnicaEnglish NewsBusiness NewsKfW has a new support instrument

KfW has a new support instrument

Podgorica, (MINA-BUSINESS) – It was concluded at the Chamber of Commerce (PKCG) that the Regional Challenge Fund, a new KfW bank’s instrument of support for the Western Balkan countries, could contribute to the development of vocational education in Montenegro and decrease a deficit of certain professions in the labour market.

The KfW representatives, who visited PKCG last week, explained that the main goal of the project was to provide support for the training focusing on the reduction of unemployment, particularly among young people, and a misbalance between the education system and the labour market demands.

“Grants will be awarded to the best innovative projects to be submitted by consortia from the countries of the region,” the PKCG says in a press release.

The consortia will be comprised of vocational high schools or other educational institutions involved in certification that are recognized in the labour market, as project leaders, as well as private companies and other stakeholders contributing to the achievement of the project goals.

It was announced at the meeting that the main investments from the available grants will be made in the workshop infrastructure of the existing vocational high schools, including the equipment, and training of teachers and instructors.

The projects will be selected by independent experts.

KfW is still working out the details of the fund, considering the possibility to implement the whole project through the Chamber Investment Forum. Longer version of article is available on a link MINA ENGLISH SERVIS