Equatorial Guinea - Project to strengthen human capital in support of economic and social inclusion, Phase 1 (PARCH 1) — Equatorial Guinea

Overview

The Project to Strengthen Human Capital in Support of Economic and Social Inclusion, (PARCH) responds to the need to develop human capital and address the challenges facing the Equatorial Guinea economy. This operation will enable the Bank to tackle the root cause of the skills shortage in the country. PARCH 1 incorporates the lessons learned in the country, including the need to: (i) move towards an integrated approach that combines training and job placement support; (ii) prioritize phased operations that address qualifications issues over the long term; and (iii) ensure the gradual empowerment of the private sector in training provision and sector governance. The implementation of the Middle and Senior Management Training Programme (PFCMS) has highlighted the need for a lasting solution to the structural mismatch between the demand for and supply of employment related training. This will require action at several complementary levels including the macro level (policy support), the meso level (institutional capacity-building) and the micro level (beneficiaries).