Board of Executives in the World Bank yesterday approved the IBRD loan in the amount of 50 million EUR for the Project of Support for Employment in BiH, aimed at increasing the formal employment in the private sector for target groups. The project will begin with young people who look for their first job, stated the World Bank.
“This project will directly contribute to the opening of workplaces by providing financial incentives for formal employment in the private sector, starting with young people who are looking for their first employment. Equally important is that this project will increase employment and the capability of people to find and keep a good job,” said Tatiana Proskuryakova, Head of the World Bank Office in Bosnia and Herzegovina.
The project has two parts. The first part, promotion of employment, will help the governments of FBiH and Republika Srpska expand and increase the efficiency of their active labour market policies and the mediation of public employment services, with the aim of increasing formal employment in the private sector for a selected target group of people who are looking for a job. Programs that will be supported include the subsidization of wages, training, self-employment, services for unemployed, and services for employers.
The second part, Management, Monitoring, and Communications System, will ensure the financing for the strengthening of the management system for the monitoring of active labour market programs and mediation in employment, and the implementation of effective communication strategy directed at people who are looking for a job, employers, and policy creators. Strengthening of the IT system will also be financed, with the aim of ensuring the data exchange between employment services and other institutions, providing online services, monitoring the services offered to unemployed persons and employers, introducing the performance monitoring in employment institutes, and monitoring and publishing trends on the labour market and results of active policies of the labour market.
(Source: novovrijeme.ba)
