Financing vocational training

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The project aims to promote dual-cooperative vocational training. To this end, a mechanism for financing vocational training in Laos (Vocational Education Financing Facility/VEFF) is to be established. The VEFF facility is to finance small-scale measures that are applied for in joint applications by vocational schools and companies. The facility is intended to strengthen cooperation between the private sector and educational institutions by providing both sides with financial and technical support for the implementation of joint vocational training offers. The fund's approach represents a forward-looking expansion of the previous supply-oriented financing of the Laotian vocational training system towards demand- and competition-oriented financing. As a further component, the Lao-German Technical College in the capital Vientiane is to be supported as a model training center for DCT in the construction of an extension campus. The project is supported by an accompanying measure. The sponsor is the Laotian Ministry of Education and Sports/MoES. The aim of the module is to improve the quality and labor market relevance of the vocational training offered in the institutes and companies receiving funding. The total costs of the FC project, including a Laotian contribution, amount to around EUR 8.35 million. The financial contribution amounts to EUR 6.0 million for investments and EUR 0.8 million for accompanying measures.