December 12, 2008 No. 37/08-BD CDB SUPPORT FOR TECHNICAL AND VOCATIONAL TRAINING IN GUYANA The Board of Directors of the Caribbean Development Bank (CDB) has approved a loan equivalent to USD7.5 million to the Government of Guyana to assist in enhancing access to Technical and Vocational Education and Training (TVET). This project is also expected to improve the quality and effectiveness of such education and training. The loan will provide for the Construction of two technical institutes in Regions 3 and 5, equipment and learning materials and teacher training. The Region 3 site is within the town of Leonora on West Coast Demerara, and the Region 5 site is within the town of Experiment on West Coast Berbice. In addition, the loan will include a component to improve overall governance of the sub-sector and the establishment of an institutional framework for the further development of TVET in Guyana. Initially, the project will benefit 400 students in the two regions who cannot now access TVET. The students will have an opportunity to acquire vocational skills that will improve their employability and capacity to earn a decent living. Job attachments or placements will expose the trainees to the world of work, and enhance their chances of finding permanent employment. Over the 3-year life of the project, more than 8,000 young men and women are expected to make a meaningful contribution to economic development in Guyana. More than 1,500 men and women already in the workforce will also be given the opportunity to enhance their skills.