THE PHILIPPINES has secured a $500-million policy-based loan from the Asian Development Act (ADB) that will fund the government’s labor market programs and reforms aimed at boosting job creation.
The Business and Employment Recovery Program-Subprogram 2 supports government efforts “to achieve inclusive economic growth by equipping the country’s labor force, including vulnerable youth, with the skills required to meet evolving industry needs,” the ADB said in a statement.
The program will also aim to raise women’s participation in the workforce through technical and vocational education and training, as well as provide better access to opportunities.
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