World Bank supports employment
World Bank approved $25 million in financing to help job seekers and micro-entrepreneurs in Mongolia access labor market opportunities.
World Bank supports employment. World Bank approved $25million in financing to help job seekers and micro-entrepreneurs in Mongolia access labor market opportunities. Mongolia Employment Support Project aims to provide new opportunities for people to start and grow sustainable microbusinesses. The comprehensive support will include a range of non-financial support services, including business skills and development training, mentoring, peer-to-peer and alumni networks, and market linkages. It will also include financial support such as microloans for new and existing microenterprises, supplemented by interest rate relief for the most vulnerable beneficiaries. The project will strengthen client-centric public employment services to help them become more effective in achieving quality job placements and attract more employers and listings for higher-skilled jobs. In addition, the project will support employment trainings better matched with labor demand, while local labor and social welfare offices will be given the opportunity to develop and implement their own labor market proposals appropriate for the local context. The scope and quality of information on the labor market and jobs will be upgraded to better connect individual job seekers to employers, and enhance labor market monitoring and evaluation.
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