| Project Detail |
Project Name
Business and Employment Recovery Program - Subprogram 2
Project Number
55300-002
Country / Economy
Philippines
Project Status
Approved
Project Type / Modality of Assistance
Loan
The program supports the Government of the Philippines in building a business environment that fosters sustainable, high-quality jobs, particularly in the aftermath of the coronavirus disease (COVID-19). Subprogram 2 focuses on bridging the gap between skills training and employment, ensuring that the workforce is well-equipped to meet evolving industry needs. By expanding active labor market programs and liberalizing the business and investment framework, the program aims to increase the share of private sector jobs among total employment, significantly above the pre-pandemic level. It also promotes inclusive growth by increasing womens participation in technical and vocational education, providing them with better employment prospects. The program further supports vulnerable youth not in employment, education, or training and workers at risk of losing their jobs by providing them life skills and technical training and connecting them to private sector opportunities. In doing so, it contributes to the countrys long-term vision of inclusive and resilient economic growth, as outlined in AmBisyon Natin 2040. |
