AfDB Approves USD 41m Funding to Boost Graduate Employment in Malawi
The African Development Bank (AfDB) has approved funding of USD 41 million to improve the employment prospects of graduates and students in Malawi through training and skills development.
The financing to support efforts of the Malawian government in improving the quality and relevance of skills for job creation and employability is a mix of loans and grants from the AfDB’s African Development Fund and its Nigerian Trust Fund, and includes a contribution from the government of USD 4.1 million.
The main beneficiaries of the project will be students and teachers in key institutions of Higher Education and Technical, Entrepreneurial, Vocational Education and Training (TEVET) in Malawi.
Other beneficiaries will include secondary school graduates, teaching staff, and prospective employers.
The project will last for five years and will offer increased access to TEVET and higher education. It will also target education institutions with good links to employers. There will also be improved monitoring and evaluation systems in the beneficiary institutions linked to relevant government ministries. It will also include impact evaluations to measure the project’s effectiveness in boosting participation and retention in TEVET and higher education
The project is in line with the Malawian government’s growth and development strategy for 2011 to 2016, the national education sector plan for 2008 to 2017, and the AfDB’s medium term strategy for 2008 to 2012 and is strategy for higher education and science training.