The International Youth Foundation (IYF) and the Multilateral Investment Fund (MIF) of the Inter-American Development Bank have joined forces to prepare workers for the jobs of the new economy in Latin America and the Caribbean. Together we created a US$29 million program, entra 21, to co-finance youth employment projects in information technology (IT).

This four-year collaboration aims to:

Support local projects that train young people and assist them in securing jobs that require IT skills
Create partnerships among nonprofit organizations, governments, and businesses to meet the IT training and employment needs of the region
Identify, document, and disseminate best practices in training, job placement, and collaboration among participating organizations

The employment needs of young people in Latin America and the Caribbean

More than half the population of Latin America and the Caribbean is under the age of 24, with youth unemployment rates on the rise in most of the countries of the region. Existing educational systems are failing to equip youth with the knowledge and skills necessary to succeed in a fast-changing marketplace. At the same time that more and more youth are unprepared for the workforce, businesses have an urgent need for workers equipped with the technical skills to contribute to the region’s growing information-based economy. Demand for IT skills is expected to rise sharply in the region as more organizations migrate toward the Internet and automate their businesses with application software.

Young people possess the creativity and adaptability to thrive in the IT area; yet more programs are needed to equip youth with the knowledge and skills to take advantage of growing opportunities. Greater investment in such programs will help narrow the growing gap between the supply of and demand for skilled workers, while helping to bridge the digital divide between developed and developing countries.

http://www.iyfnet.org/section.cfm/5/24/800