Education Sector Reform.
EDUCATION SECTOR REFORM. $20 million from the Inter-American
Development Bank is for Education Sector Reform (BA-L1016). Recognizing
the need for a skilled workforce to improve its competitiveness in the
global economy, the Govt of Barbados (GBA) signed, with the European
Union (EU), a Human Resource (HR) strategy 2011-2016, focused on
training and education; which the proposed Bank operation will support.
The EU provides budgetary support upon achievement of specified targets
related to the training sector. The HR strategy is part of regional
efforts to create a training system that allows the transferability of
degrees and formal educational certification to facilitate mobility
among CARICOM residents within its creation of the Caribbean Single
Market and Economy. In its endeavor to make the transition from a
knowledge economy to innovation driven economy, training efforts have to
be better aligned with business needs. Status: In preparation stage.