By Olimatou Coker
President Adama Barrow has said the Skills, Innovative and Entrepreneurship Fund that he launched on Tuesday is designed to address challenges related to the shortage of financing related initiatives, such as scholarships for students and funds for startups.
The Fund is an innovative strategy developed by the Ministry of Higher Education, Research, Science and Technology and funded by the World Bank to enhance skills acquisition, employability, and job creation among Gambian youths and women.
According to officials, the new initiative is defined as a game changer in The Gambia’s higher education sector.
The president further disclosed that the fund will enhance TVET capacity by strengthening TVET institutions and training, promoting relevant skills development, and supporting intrapreneurship for successful businesses.
“As part of the program in collaboration with the World Bank Group, the government has developed and validated skills innovation and entrepreneurship fund manuals,” he said.
The president added: “ this is the first of its kind and the fund will give the public and private institutions equal opportunities to apply and benefit from competitive processes. Importantly also it will provide start up support for our members and is expected to promote investment returns and follow up measures to abstain effective use of grants awarded.”
The president thanked the higher education ministry, the World Bank, and other partners for making the program feasible.
The project is seen as the beginning of a new phase in the transformation of the tertiary and higher education sector.
