US$44M loan signed to enhance human capital through education
The Government of Guyana on Friday signed a US$44 million loan agreement with the World Bank as part of Guyana's Strengthening Human Capital through Education Project.
The project focuses on expanding access to quality education at the secondary level and improving technical and vocational training (TVET).
The agreement was signed in the Ministry of Finance’s boardroom by the Senior Minister within the Office of the President with responsibility for Finance, Dr Ashni Singh, and World Bank Resident Representative for Guyana and Suriname, Diletta Doretti.
In brief remarks, Minister of Education Priya Manickchand stated that this project aligns with her Ministry’s goals to improve and expand access to quality secondary education while simultaneously developing the country’s TVET sector.
“The Government of Guyana is very aware that this new Guyana has to be people-centred. Each human being must develop along with the beautiful resources our land is benefiting from.”
Finance Minister Dr Singh shared similar sentiments. He noted that the signing of the agreement is a significant part of a broader and comprehensive policy agenda.
He explained, with the rapid transformational development taking place, there is a great need for human capital development.
“We believe that there is no investment that is more important than the investment in the people.”
Meanwhile, Doretti highlighted that the funding aims to prepare citizens to excel in emerging sectors of the economy, including climate-resilient agriculture, low-carbon technology, and digital development.
“Activities under the project are expected to benefit at least 60,744 students and 2,128 teachers and principals at the secondary level. At the TVET level, a minimum of 600 students and 140 secondary and post-secondary TVET trainers will benefit from professional development activities.”
The project will support the piloting and national rollout of a new curriculum for Grades Seven to Nine and finance textbooks for Grades Seven to Eleven. It will also see the development of a new TVET sector policy for 2022-2030 and improve the delivery of TVET at secondary and post-secondary institutions.
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