Youth Employment and Transformation Initiative Project launched
KATHMANDU: The ‘Youth Employment Transformation Initiative’ project was launched today with support of the World Bank (WB) to promote employment in the country.
Minister for Labor, Employment and Social Security Rameshwor Raya Yadav and World Bank Country Director Nepal Faris Hadad-Zervos marked the beginning of the project. The project will enable poor and vulnerable youth gain access to employment, skills development and capacity building opportunities, according to the WB.
Aligned with the Prime Minister Employment Program, the $120 million USD project will be implemented over the next four years with a focus on improving employment services and labor market outcomes, especially for youth. “With the onset of COVID-19 and the subsequent contraction of the global job market, Nepal’s labor market is also affected with a huge number of job losses.
In this context, result-driven implementation of the project at all three levels of the government is of critical importance,” Minister Yadav said. He hoped that this project plays a crucial role to expand the employment opportunities in the domestic labor market and to set up an automated system of Labor Information Bank and upgrade the Employment Management Information System.
In addition to the longer term goals of the project, as part of the World Bank’s COVID-19 response, the project funding is being frontloaded this year to support over 75,000 of the most vulnerable unemployed youth at the local level to earn 100 days of wages each through the creation of temporary employment opportunities in the maintenance and upgrading of public infrastructure, World Bank Country Director Faris Hadad-Zervos said. “Working with the government, development partners and the private sector, the World Bank will seek to contribute to a long thread of engagements that align to make a difference in the lives of the most vulnerable people.”
The project agreement was signed in November 2019 by the Government of Nepal and the World Bank. Of the total credit, about 90 percent is allocated to the local levels to create jobs in the maintenance and upgrading of public infrastructure and public services for 100,000 unemployed youth, 60% of whom will be women as per the project’s priority to inclusion.
The project will support 753 Employment Service Centers at the local levels to strengthen the workforce and to provide services in registration, profiling, referral, temporary work placement and on-the-job training, the WB stated in a press statement.