Gambiaj.com – (BANJUL, The Gambia) – In an effort to empower Gambian youth to unleash their full potential and contribute to national development, President Adama Barrow has launched the Skill, Innovation, and Entrepreneurship (SIE) Fund.

The main objective of the SIE Fund is to enhance access to technical innovation and entrepreneurship skills for Gambian youth while improving the relevance and quality of Technical and Vocational Education and Training (TVET) in the country.

The fund, launched at the Sir Dawda Kairaba Jawara Conference Centre, is designed to address three key gaps hindering youth success: lack of financial resources to afford TVET tuition, lack of capital for graduates to start and scale businesses, and inadequate resources for TVET institutions to implement much-needed improvement initiatives.

The Ministry of Higher Education, Research, Science, and Technology (MOHERST), in collaboration with the World Bank Group, has developed a manual for the SIE Fund as part of the World Bank-funded Resilience, Inclusion, Skills, and Equity (RISE) project to guide its implementation.

In his launch statement, President Adama Barrow emphasized the importance of responsibly utilizing support from the World Bank Group and other donors to strategically determine projects that yield developmental benefits. He noted that the SIE Fund is an example of such targeted strategies and is aligned with his government’s tertiary and higher education transformative agenda as detailed in the 2023-2027 recovery-focused National Development Plan, Yiriiwa. The initiative aims to increase skill acquisition, employability, and job creation among Gambian youth and women.

“With the new Gambia Qualification Framework, our programs will reach the quality levels required by the labor market, ensuring access to both technical and general education,” President Barrow stated.

He revealed that relevant bills will be tabled during the second ordinary session of the National Assembly, and lessons learned from the fund will guide the implementation of financing strategies for higher education, research, science, and technology.

“As the first of its kind, the fund will provide equal opportunities for the public and private sectors to apply and benefit through competitive processes, importantly providing strategic support for the youth.”

President Barrow encouraged development partners, private sector, and civil society organizations to support his administration in building human capital for the country.

Professor Pierre Gomez, Minister of Higher Education, Research, Science, and Technology, highlighted the significance of TVET education, stating that entrepreneurship and innovation are driving forces for sustainable development. He described the initiative as unprecedented in Gambian history, offering youth an alternative and support to take charge of their destinies, as TVET is a functional education that liberates the individual.

Expressing gratitude to the president for his unwavering support, Professor Gomez described TVET education as a game-changer that develops and supports the higher education system.

Representing the Minister of Finance and Economic Affairs (MOFEA), Babucarr Joof stated that the fund is a significant milestone that promises immense progress for the development of Gambian youth and the acceleration of sustainable economic growth through skill acquisition, innovation, and business development.

Highlighting the objectives of the SIE Fund, Joof elaborated on MOFEA’s roles and efforts in ensuring the fund’s success and the development of youth.

In her remarks, World Bank Country Representative Feyi Boroffice emphasized that investing in people today is essential for achieving greater prosperity tomorrow. Highlighting Gambia’s demographic profile, she noted that a significant youth population faces challenges, with 37% of those aged 17-24 not in education, employment, or training.

She stressed the importance of working together to unleash the potential of Gambian youth through targeted support, ensuring that all young people, regardless of their circumstances, have the opportunity to succeed and contribute to society.