He World Bank approved additional financing of USD 230 million for Argentinain order to improve labor insertion and access to quality jobs for those who are unemployed through the extension of training and job search services.
The project “promote better jobs with integrated training and job programs” It supports programs to promote employment and return to work, implemented by the Ministry of Labor, Employment and Social Security (STESS).
“Argentina is investing in training its workforce and getting more and better jobs to generate. In the next ten years, 1.9 million young people will reach the productive age while technological advances are complicating the work trajectories of people in full productive stage,” he said Marianne Faydirector of the World Bank for Argentina, Paraguay and Uruguay.
The president of the World Bank was in Argentina in April and told Milei the entity’s support for the reforms
“Programs like Foster employment and return to work They seek to improve opportunities to access formal employment and thus build a better future for Argentines throughout their lives, ”added the entity’s directive.
Through a statement, the multilateral entity indicated that since its creation, more than 400,000 people participated in the Employment Program. In addition, with the implementation of the EMPLOYMENT PORTAL1.7 million people were achieved to be registered to seek formal employment and training and more than 7,500 companies published their job vacancies.
On the other hand, the program trained more than 2,000 employees of municipal employment offices and created the Argentina’s Observatory (OOA), which allows analyzing and monitoring the labor market, informing the design of interventions so that they are aimed at the needs of employers.
In this new stage, it is expected that more than 800 thousand unemployed people receive training and job search services or register in the program to return to work. Among the courses they may receive, support for the certification of basic socio -labor competences, and for self -employment will be offered.
The project is variable margin, Refundable in 32 years And they have a seven -year grace period.
The new World Bank loan arrives after April 2, President Javier Milei received the head of the World Bank Group in Casa Rosada, Ajay bangawith whom he spoke about the reforms that are being carried out in Argentina and about the Backup of the organism to promote the growth of the private sector and the creation of employment in the country.
During the meeting, in which the General Secretary of the Presidency was also present, Karina Mileithe Minister of Economy, Luis Caputoand the Secretary of Finance, Pablo QuirnoPresident Milei presented on the measures implemented since the beginning of his management that allowed the economy to stabilize and lower inflation.
For his part, Banga highlighted the important progress achieved in the domestic economy in the last year. In this sense, he congratulated Milei for the bold transformation he is leading in Argentina and expressed the desire of the World Bank Group to support To the country.
Meanwhile, Banga said the World Bank is “working closely with President Milei and his team to support his ambitious reform agenda.” “As a short -term sample of that commitment, we are preparing a significant support package that brings together all the strength of the World Bank Group to support the reforms, attract private investments and lay the foundations for employment creation,” he added.
He also stressed that the multilateral organism will provide a substantial support package that will be disbursed over the next three years and will gather the entire strength of the World Bank Group composed of the International Bank for Reconstruction and Development (BIRF); the International Financial Corporation (ICC); The multilateral investment guarantee agency (crumb) to support reforms, attract private investments and lay the foundations for sustainable growth.
In this regard, the president of the World Bank indicated that it also advances in close coordination with the Argentine economic team, the IMF (International Monetary Fund) and the IDB (Inter -American Development Bank) to ensure that the support is aligned, is effective and sends a strong signal of international confidence in the future of Argentina.
In this sense, the important credit flow of agencies facilitated the rapid dismantling of changes control since April 14. On April 15, USD 12,000 million arrived – from a total of USD 20,000 million – of the first disbursement of the fund, while on April 16, other USD 1.5 billion granted by the BIRF was incorporated into BCRA reserves.
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