An agreement between the German Development Bank KfW and the Western Balkans Chamber Investment Forum meant for financing projects in secondary vocational education was signed in Podgorica.
The agreement worth EUR 25.5 million entails the connecting of vocational education with the demands of the labor market. The money was approved by the Federal Ministry for Economic Cooperation and Development of Germany.
The four main principles of the Regional Fund were presented at the meeting: the strengthening of competitiveness, the selection of projects, independent management and cooperation with the main interested parties on a regional level.
The intention is for the Regional Fund to grow into an open-door institution for learning which would over time start cooperating with other donors as well. The signed agreement and the upcoming project should provide a strong support to the efforts in carrying out policies for reducing unemployment, especially pertaining to young people in the Western Balkans.