Monday
December 21
2020

Asian Development Bank Approved $93 Million Loan to Boost Skills Development and Inclusive Growth in Uzbekistan

The Asian Development Bank (ADB) today announced that it has approved a $93 million loan to help enhance competitiveness in Uzbekistan and boost inclusive growth by improving market-relevant skills development for young people and unemployed job seekers.

“Uzbekistan has significant potential to drive economic growth and create jobs but a lack of skills has been a critical constraint for private sector growth and economic diversification,” said ADB Senior Social Sector Specialist Xin Long. “This project will play a significant role in helping to boost employment in Uzbekistan, particularly for young people, and will help students and job seekers pick up the relevant skills they need to thrive in the job market of the 21st century.”

The Skills Development for a Modern Economy Project seeks to develop a skilled workforce in five priority trades: construction; textiles and garments; information and communication technology; agribusiness and food processing; and machinery-repair and maintenance.

Photo courtesy of Innovate Impact Media.

Source: Modern Diplomacy (link opens in a new window)

Categories
Entrepreneurship
Tags
inclusive business, jobs, skills development, SMEs, technology, youth