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Add to Preferred SourcesJ.P. Morgan announced an up to $10 million commitment to a new World Bank Multi-Donor Trust Fund focused on improving the quality of skills development for young people in India.
The program – School to Work: Skilling India’s Youth – will improve access to quality and market-relevant training for youth in select states of India. The program will support innovative models in curriculum development; provide appropriate training for teachers as well as career counseling for students; develop and match skills development programs to emerging demand in the future of work; foster inclusion of marginalized communities; and reduce gender gaps in accessing skills development programs. Pilot projects will be launched in Maharashtra and Rajasthan.
“Children who are in primary school today are likely to work in jobs that do not even exist right now. To prepare for a fundamentally altered world of work, investing in people and their skills, is going to be a critical policy decision countries can make to secure the future of their citizens,” said Junaid Ahmad, World Bank Country Director in India.
“This collaboration with J.P. Morgan, focused on improving the quality of skills development for young people, will support India’s efforts to tap into the future job market as it strives to transition to a high middle-income country,” he added.
The investment in the World Bank program is part of J.P. Morgan’s $25 million, five-year commitment to help low- and middle-income communities in India develop the skills needed by the country’s workforce in the future.
“India is in a unique position as, for the next two decades, more than two-thirds of its population will be of working age,” said Kalpana Morparia, Chairman, South and South East Asia, J.P. Morgan. “We believe integrating work skill training with core academic curriculum will create an efficient workforce for the country’s economic progress.”
J.P. Morgan is the first private sector organization to partner with the World Bank on improving skills in India. The partnership is one example of the World Bank’s efforts to mobilize funding, ideas and innovations from private sector and philanthropic actors in solving development challenges around the world, including the need to prepare the workforce for a changing job market.
Original source: World Bank
Published on 21 October 2019