U.S. Treasury presented award to President Luis Alberto Moreno in Washington

The Inter-American Development Bank’s support for Mexico’s PACE Training and Employment Support Program was recognized for its development impact by the U.S. Treasury in an award ceremony today.

U.S. Treasury Secretary Jacob J. Lew opened the “Development Impact Honors” Program at which IDB President Luis Alberto Moreno accepted the award on July 25 at the U.S. Treasury Department in Washington, D.C.

The IDB-financed PACE Training and Employment Support Program has helped 1.5 million people in Mexico to find jobs, while aiding 7 million others who searched the government employment site for information on jobs or training. From 2010 through mid-2012, the program provided more than 800,000 persons, the majority women, with training stipends for on-the-job training. Of that total, 80 percent found jobs.

For nearly two decades, the IDB has supported the Government of Mexico’s efforts to help its citizens overcome some of the main barriers to getting better jobs: the lack of hard and soft skills in demand in the labor market, insufficient work experience, and the sheer absence of information about where good opportunities are available. In countries like Mexico, where more than 60 percent of the workforce toils in the informal sector, training people and helping them find good jobs is crucial.

“Good jobs have the power to transform lives, moving people out of poverty and putting them on a path to prosperity,” said President Moreno. “Good jobs can ensure access to other things essential to achieving better standards of living and improving the outlook for future generations: nutrition, housing, education and healthcare, to name a few.”

“Over the years, we have taken many of the lessons learned from PACE and transferred them to other countries interested in finding effective ways to reduce poverty and inequality,” Moreno added. “Among lessons learned is to ensure the private sector is involved in these efforts from the start. This guarantees that training will respond to labor market needs and that trainees will have opportunities to learn on the job.”

For a full list of awardees please visit www.treasury.gov.