- Awards of non-reimbursable funds will be granted to industries from IDB borrowing members countries seeking to provide workforces with the skills needed in changing landscapes
As productive processes change rapidly and demand more advanced skills and digital workforces, the IDB is inviting industry associations in the region to apply to the non-reimbursable funds of its Regional Industry Skills Strategy Competitive Fund. The fund seeks to channel investments that help industries set a course for their current and future workforce to develop the skills required to thrive in the digital landscape.
The fourth industrial revolution (4IR) and climate change have a profound impact on the way businesses operate and approach global markets. It is essential that industries in Latin America and the Caribbean have access to the resources and expertise they need to stay ahead of the curve in ever-changing business landscapes.
Industries of all sectors, at any stage of their digital and/or business transformation journey, are welcome to apply. Proposals to develop their skills strategies can receive up to $60,000, and those that place a focus on industry transition towards green jobs could receive up to $80,000.
By applying to IDB's non-reimbursable skills development funds, industry associations or clusters in countries in Latin America and the Caribbean will get the chance to: develop and implement workforce training strategies; and access IDB’s expertise and actionable knowledge to train their talent and get it up to speed with the skills required to compete in increasingly changing landscapes.
The funds are administered by IDB’s Labor Markets and Social Security Division.
The selection will be announced on June 30, 2023. It will consider the skills strategy’s relevance, sustainability, equity, inclusion and prioritization of workforce resilience. Other selection criteria include:
- A clear understanding of the impact that digital technologies are having on industries.
- A willingness to work with the IDB to design and implement customized training strategies that meet the specific needs of the organization.
- A commitment to promoting sustainability, green jobs, and gender equality.
- A commitment to transparency and accountability in the use of the funds.
Applications can be submitted here. The deadline is May 31st, 2023, at 11:59 p.m. ET.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region. Access our virtual tour.