Boosting Work Training in Panama

The Republic of Panama’s Ministry of Economy and Finance (MEF) has signed a $50-million loan with CAF -development bank of Latin America- to deploy the "INADEH Comprehensive Transformation and Improvement Plan,” which is intended to help improve the quality and supply of job training for some 31,000 participants expected to access the institution’s renewed services every year.

The operation aims to meet the economic and social priorities outlined in the Government’s 2015-2019 Strategic Plan of Action, which defined the need to strengthen the National Institute for Professional and Human Development Training (INADEH), an institution whose only 30 percentof its academic supply is designed according to the competencies required by Panama’s productive sectors. A portion of the funds will also be used toward improving infrastructure, as well as classrooms, workshops, laboratories and farms throughout the country.

“CAF believes that education is fundamental to achieving economic growth, social welfare and individual development,” CAF representative in Panama said. “A more educated people can raise its country’s capacity to develop knowledge, increase employment opportunities, boost revenue and, of course, consolidate the basis for sustainable development.” He also reiterated CAF’s commitment to achieving quality, inclusive education, and pledged the bank’s determination to support Panama - as well as the region’s countries - in improving the quality and social, human and economic benefits of their educational policies.

"For more than a year, we ministers have been committed to working hard to obtain a $50-million investment to improve our institution,” INADEH managing director Samuel Rivera added. “This loan marks the beginning of a story in which participants will enjoy modern buildings and updated academic contents, which will allow the country to have more competitive people in the market,"

The INADEH Comprehensive Transformation and Improvement Plan has four main components: Strengthening the institution’s academic supply, achieving its institutional reinforcement, partially renovating the infrastructure and equipment of the Tocumen training center (headquarters), as well as other regional centers, and managing the project. 

Acting as executing agency, INADEH will be responsible for appointing a specialized task team that will coordinate the implementation of the Project before CAF.