Announcement of Ecuador to Expand Vocational Training Facilities with Sixteen Million Dollars World Bank Loan on June 7, 1982

Cj· 0 {) Jl • .,., • ' ~• • rt >H • i,\1~\.UHI ,\.H Rfl F1\Sf. .,, • • • "~ "' • .~ ~ > -~ (,) '"•World Bank:: 8'J. (J. ,:; 1i) . . 0 . . . ~ <!,\ 181;8 HStreet/N.W., Wa-5ihingtoQ,D.C. 20433, US.A.• Telephone:Q(202) 477-1234 " ... : . ., (.\ ~ ~0 ~' -------~-----~-----------------------------··::-~,1-· '.\\ ·o ~ B,ANK t£WS . RELEASE N0.82/ 115 Contact: Ciro Gamarra J't.llJ~ 7, 1982 (c202) 477-80~4 ~:: . '6 ECUADOR TO E.XPAND VOCATIONAL TRAINING FACILITIES WITH.$16 MILLION WORLD 'BANK LOAN 0 0 11 ~. . Ecu~dor· will use a $16 million World Bank loan to. expand vocational training O faci~ities. The loanG is the ·Bank' s second to EcuaC.:-o~ for thl.s purpose; the first, a 1 "-' loan ,of $4 .million' ·made in 1975, · has financed tbe cc>nstruction of training f aci~l fti<as·) in tfO major urban c~)nters. Q C p ' . g Si'nce 'the demand for" Skilled workers' is increasing annually and exc~eds the 1 "' qapacity· of existing" training programs., the,, $33 .6 million project will help the 0 Servicio 'Ecuatoriano de Capacitaclon Profesional, the EcuadoFiafl Training Service, to furt,~ercdevelop i~s facilities.,, ' . . IJ,. Jo achieNe '1 balariced'' regional distribµtion of trainihg opportunities, the 0 largest expenditure of the' project will be·, for constructing ·or upgrading 13 training, cent~rs, mostly in secondary Qities ,and rural areas. Five towns will have training 9enters for the first time, and five others, in-clud'lng Quito, the capital, wUl have, their facilities upgraded. ·rhe ripe~l;ltions of the Ecuadorian Training Service will be strengthenec;I with the provision of consultant services. Five mobile units with specialized training equipment will be provided . to increase the outreach to more rural area:s anct smaller towns. These new and expanded facJlities ,will enable the ,training each'year of 2,;800 new workers' and the upgrading \ of the skilfs of 13,400 workers already in serviqe''· In addition, 130, instructors · will be trained annually'~ The project will also fmprove the quality of teacher training· materials. ' ' ·~) \\ '· I ,The Ecuadorian government res<>urces, bilateral grants, and suppliers' credits wi 11 be used to co-finance the project. The second vocational training loan to Ecuador is for 17 years, including four yearsi'of grace, with interest at 11.6% a year. It carries an annual commitment ·charge of O. 75% o~ undisbursed balances and includes a front-end fee of 1.5% on the amount of the loan. · NOTE: Money figures are. expressed in U.S. dollar equivalents.