With the right skills, people can get jobs that can help them escape poverty. Private employers often have positions to fill, but can’t find enough qualified people due to skills shortages in the local economy.
Investments in education help to bring more people into the workforce with in-demand skills.
IFC supports private education providers which have a particular emphasis on providing knowledge and skills that lead to employability.
In the Philippines, our $16 million loan is enabling the Asian School of Hospitality Arts (ASHA) to expand its curriculum to include courses in hotel, restaurant, and hospitality management. With our financing, ASHA is targeting to increase enrollment from 1,400 to 6,400 by 2015.
In Ghana, Ashesi University College’s Class of 2011 had a 99 percent job placement record within five months of graduation. IFC’s $6 million investment is helping it increase enrollment from 500 to 2,000.