The Technical and Vocational Training Education (TVET) sector will receive a boost after Rwanda and South Korea entered an agreement worth Rwf8.7 billion.
The financing agreement, in the form of a grant, was signed last week between the Ministry of Finance and Economic Planning and the Korea International Cooperation Agency (KOICA).
It is expected to strengthen the TVET sector and develop competent TVET graduates who can meet labour market demands, according to the Ministry.
Rwanda’s Finance Minister Uzziel Ndagijimana, said in a statement on Monday that there is currently a mismatch in skills and the growing industrial base, demanding special focus.
“Rwanda’s industrial base is growing but it does not match skills available in the country,” he said.
“It is important that we address the skills gap to ensure that the economy continues to grow and remain competitive and this support will contribute immensely to this goal,” he added.
The funding, part of KOICA’s existing programme in Rwanda, could enable the government to increase technical skills.
“This support will create a comprehensive and broad system that will guide the TVET training in Rwanda to ensure the effectiveness of our intervention while sustaining the results in the long term,” KOICA Deputy Director, Myung Keun Choi noted.
Choi added that there is no doubt that the new project will contribute to further strengthening of the TVET sector in Rwanda.
KOICA’s programme has since 2006 shifted from volunteer dispatch to strengthening cooperation through projects and programmes.
It currently has 10 on-going projects in the country worth roughly $32 million, which cover education, agriculture, ICT as well as urban and rural settlement.
Culled from Newtimes