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Economy

World Bank grants Sh27bn TVET loan

artisan skills
The move will increase supply of artisan skills. FILE PHOTO | NMG 

The World Bank on Thursday approved a Sh28.5 billion ($285 million) credit and a further Sh800 million grant to finance technical institutions in Kenya, Tanzania and Ethiopia.

Without stating amount due for each country it said the move will increase supply of artisan skills like plumbers, electrician and mechanics to critical sectors that the region requires to boost its economic integration.

The loan awarded under the East Africa Skills for Transformation and Regional Integration Project is set to benefit 17 Technical and Vocational Education and Training (TVET) institutes. It will help them to develop and deliver “demand driven” technicians.

“We recognise the transformational opportunity that human capital development present for East Africa’s future,” said Sajitha Bashir, World Bank Education Practice Manager for Eastern and Southern Africa.

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