ILO supports development of National Human Resources Development Fund
Bangladesh faces a major challenge in terms of skill development. The rapid growth of the manufacturing sector has led to the creation of millions of new jobs, but also the creation of widening skills shortages in almost every industry sector. To address these shortages, the Government of Bangladesh is creating a National Human Resources Development Fund.
Skill training needs to increase for the country to continue its growth towards becoming a middle-income country and so a new consolidated approach to skills financing is needed. Currently, the cost is shared mostly by individual trainees and the government, but this is insufficient to fund the huge changes needed in the quality and quality of skills.
The fund will be set up through an initiative of the National Skills Development Council and the Ministry of Finance, with support from the Asian Development Bank and industry.
The National Skills Development Council Secretariat, with the support of the ILO, has developed a draft discussion paper on skills financing mechanisms, which lays out the groundwork for policies which the fund will be set up around. The discussion paper also provides a platform in which to stakeholders can join the process. So far consultation has included three workshops attended by industry, government and non-government representatives, and a number of individual consultations. By the third quarter of 2015, the full paper will be publicly available.
Developing sustainable, dedicated funding mechanisms for skill development is part of reforming Bangladesh’s skills development system which is currently being undertaken by the Government of Bangladesh through the National Skills Development Policy and assisted by funding from Canada through the Bangladesh Skills for Employment and Productivity Project.
See a 2-page fact sheet on the National Skills Development Policy here
See the full National Skills Development Policy (English/Bangla) here
The fund will be set up through an initiative of the National Skills Development Council and the Ministry of Finance, with support from the Asian Development Bank and industry.
The National Skills Development Council Secretariat, with the support of the ILO, has developed a draft discussion paper on skills financing mechanisms, which lays out the groundwork for policies which the fund will be set up around. The discussion paper also provides a platform in which to stakeholders can join the process. So far consultation has included three workshops attended by industry, government and non-government representatives, and a number of individual consultations. By the third quarter of 2015, the full paper will be publicly available.
Developing sustainable, dedicated funding mechanisms for skill development is part of reforming Bangladesh’s skills development system which is currently being undertaken by the Government of Bangladesh through the National Skills Development Policy and assisted by funding from Canada through the Bangladesh Skills for Employment and Productivity Project.
See a 2-page fact sheet on the National Skills Development Policy here
See the full National Skills Development Policy (English/Bangla) here