Significant IDB loan targets labour mediation, job training
PARAMARIBO, SURINAME — More Surinamese people could find themselves employed over the next few years thanks to a new programme that aims to boost employability as well as local recruitment efforts.
This programme is being funded by a US$10 million loan from the Inter-American Development Bank (IDB).
This is the equivalent of just under $300 million SRD, making it an enormous investment to expand jobs in Suriname.
The loan will be disbursed over five years, with a grace period of another five and a half years.
According to an official statement, “The Inter-American Development Bank approved a US$10 million loan to provide jobseekers in Suriname with relevant and high-quality training for employment and expand the use of labour market intermediation services by jobseekers and employers.”
Additionally, the loan will “benefit Suriname’s Department of Labour Mediation users, both job seekers and employers, by improving the coverage and effectiveness of employment services, increasing the likelihood of job placements and vacancies filled”.
The government’s labour mediation service functions similarly to Caribbean Employment Services Inc.
It seeks to connect local employers with resident jobseekers, thereby ensuring residents can secure gainful employment.
This new injection of funds will surely help the programme provide even more Surinamese with jobs.
Targeted job training in Suriname
The secondary aspect of the IDB’s loan consists of more funding for job training programmes that will ensure residents are adequately skilled to fill existing job vacancies.
According to the IDB’s statement announcing the loan, “In Suriname, a significant percentage of people have difficulty accessing jobs for one of two reasons.
“They are not equipped with the skills demanded by the productive sector, or they lack labour market information to find a job that suits their skills.
“On the skills demand side, almost three out of four employers in Suriname find it difficult to identify and recruit employees with the proper skills to fill their vacancies.
“The program will benefit jobseekers by providing access to high-quality training for employment, leading them to better job prospects.
“Secondly, the program aims to mitigate the mismatch between what the Surinamese education system currently produces, and what the new industries are demanding as skills.
“This will result in providing young Surinamese with better job opportunities.”
A similar programme is being undertaken in Bermuda, with officials currently assessing the labour market to determine where gaps exist.
Such programmes are expected to address longstanding issues of brain drain and immigration tension that have existed in many Caribbean nations.