IFC, CIS Group sign agreement to provide jobs for youth in Iraq, Lebanon

Baghdad (IraqiNews.com) – The International Finance Corporation (IFC), a member of the World Bank Group, and CIS Group, a leading technical and vocational educational institute with branches in Lebanon and Iraq, signed an agreement on Tuesday to support the group’s activities throughout Lebanon and Iraq and expand youth employment possibilities.

This project is part of the Prospects Partnership, a global program supported by the Dutch government to improve the access of host communities and other vulnerable groups to social protection, education, and decent jobs.

The agreement will improve IFC’s corporate governance procedures and educational offerings by giving young people skills that are in line with the needs of the market.

Iraq’s young unemployment rate, according to World Bank estimates, is 32.3 percent. In Lebanon, the International Labor Organization (ILO) reported that 47.8 percent of the Lebanese youth do not have jobs.

By providing students and the workforce with skills that are up-to-date with market demands, educational institutions such as CIS may help to increase employment, productivity, and economic growth.

Through improved cooperation with the private sector to investigate job placement alternatives, IFC will support CIS in its exploration of prospects for the inclusion of marginalized and vulnerable groups in the labor market.