Agreement signed to improve opportunities for young Salvadorans
Through this non-reimbursable cooperation, CABEI seeks to support opportunities, strengthen its life projects and achieve its goals.
San Salvador, June 22, 2017. - Today, the Central American Bank for Economic Integration (CABEI) signed a Non-reimbursable Financial Cooperation agreement for US$1 million with the Government of El Salvador for the development of the project denominated, "Strengthening the Capacities of the National Youth Institute INJUVE and the Specialized Engineering School ITCA-FEPADE, through the Employment and Youth Employability Program."
Participants at the signing event included Salvadoran Minister of Finance and CABEI Governor, Mr. Carlos Cáceres, and CABEI Director for El Salvador, Mr. Guillermo Funes Cartagena. In addition, INJUVE Director General, Yeymi Muñoz and ITCA-FEPADE President, Elsy Escobar Santo Domingo served as honor witnesses.
CABEI Director for El Salvador, Mr. Guillermo Funes Cartagena stated that, "The funds from the non-reimbursable financial cooperation will be used exclusively to finance the activities related to the project denominated, ‘Strengthening the Capacities of the National Youth Institute INJUVE and the Specialized Engineering School ITCA-FEPADE,’ which falls under the framework of the Employment and Youth Employability Program."
The initiative aims to strengthen capacities by means of providing equipment and furnishing to raise the quality of services at two key institutions for the promotion of employment and employability opportunities through the technical and scientific development of Salvadoran young people; this will be accomplished by providing technical majors at the ITCA-FEPADE Specialized Engineering School, in both the Santa Tecla Central Headquarters and at the Santa Ana and San Miguel Regional Centers, pursuant to workforce demands for young people in the country. In addition, in the framework of the implementation of the Employment and Youth Employability Program denominated, "Fully Equipped Young People," the National Youth Institute (INJUVE) will be provided with equipment and furnishing for 11 centers, as well as equipment for INJUVE’s institutional coordination in order for it to provide efficient attention to the young people.
In this regard, CABEI Director for El Salvador, Mr. Guillermo Funes Cartagena, explained that, “As Central America’s Development Bank, CABEI promotes Sustainable Competitiveness in its 2015-2019 Institutional Strategy, specifically supporting productivity as part of the regional competitiveness that must be achieved, which requires trained human capital.”
The initiative contributes to the focus area of "Human Development and Social Infrastructure." Its projects support the equipment for education, technical formation and technical training. Furthermore, the cooperation is consistent with "El Salvador’s 2015-2019 Country Strategy," which establishes the need to promote productive employment through sustainable economic growth models in order to foster education and social equity and improve educational infrastructure and furnishing at a national level.
