The recent signing of a US$44-million loan with the World Bank is to assist the Government of Guyana with strengthening its human capital development objectives.

The funds to be disbursed through an education project focuses on the expansion of access to quality education at the secondary level and improving technical and vocational education and training (TVET) to meet the needs of the labour market.

It will support the piloting and roll-out of a new curriculum for grades seven to nine and finance textbooks for grades seven to 11. It will also see the development of a new TVET sector policy for 2022-2030 and bolster the delivery of TVET at secondary and post-secondary institutions.

“The Government of Guyana is very aware that this new Guyana has to be people-centred. Each human being must develop along with the beautiful resources our land is benefiting from,” stated Minister of Education Priya Manickchand in expressing elation at the upcoming plans to develop the country’s TVET sector.

The agreement was signed by senior minister within the Office of the President with responsibility for finance Dr Ashni Singh and World Bank Resident Representative for Guyana and Suriname Diletta Doretti.

Singh said that the signing of the US$44-million deal for the development of human capital is a significant part of a much broader and comprehensive policy agenda.

“With the rapid transformational development taking place, there is a great need for human capital development,” he stated.

The World Bank representative further said that the funding aims to prepare citizens to excel in emerging sectors of the economy, including climate-resilient agriculture, low-carbon technology, and digital development.

“Guyana is investing heavily in its citizens, with education and vocational training playing a key role as the country is at a key juncture of its growth. This project complements other education initiatives that the World Bank is supporting, as the government is working to ensure that more people can acquire the needed skills to benefit from the ongoing economic transformation,” Doretti had said following the approval of funding in June.

“Activities under the project are expected to benefit at least 60,744 students and 2,128 teachers and principals at the secondary level. At the TVET level, a minimum of 600 students and 140 secondary and post-secondary TVET trainers will benefit from professional development activities,” the World Bank said.