The World Bank approved a new loan for Argentina for USD 230 million.
Javier Milei and Ajay Banga
porEditorial Team
Argentina
It will be aimed at strengthening job placement and facilitating access to quality jobs for unemployed individuals
The World Bank approved this Friday an additional financing of 230 million dollars for Argentina, with the aim of strengthening job placement and facilitating access to quality jobs for unemployed people, through the expansion of training services and job search assistance.
The project, titled "Promoting Better Jobs with Integrated Training and Employment Programs," supports the Fomentar Empleo and Volver al Trabajo initiatives, driven by the Secretariat of Labor, Employment, and Social Security (STESS).
"Argentina is investing in training its workforce and ensuring the creation of more and better jobs. In the next ten years, 1.9 million young people will reach working age while technological advances are complicating the career paths of people in their productive stage," said Marianne Fay, World Bank director for Argentina, Paraguay, and Uruguay.
Javier Milei, presidente de Argentina.
"Programs like Fomentar Empleo and Volver al Trabajo aim to improve opportunities to access formal employment and thus build a better future for Argentinians throughout their lives," stated the representative of the international organization.
In an official statement, the World Bank highlighted that since its launch, more than 400,000 people have participated in the Fomentar Empleo program. Additionally, thanks to the creation of the Employment Portal, 1.7 million people registered to access formal job offers and training courses, while more than 7,500 companies used the platform to post vacancies.
Furthermore, more than 2,000 workers from municipal employment offices were trained, and the Argentina Occupations Observatory (OOA) was launched, a tool aimed at studying and monitoring the labor market to design public policies aligned with employers' demands.
Javier Milei, presidente de Argentina.
In this new phase of the project, it is estimated that more than 800,000 unemployed people will access training services, job search support, or join the Volver al Trabajo program. The training content will include certifications of socio-labor skills and support for individual entrepreneurship.
The financing granted by the World Bank is variable margin, has a repayment term of 32 years, and includes a grace period of seven years.
