April 18: The UKaid-funded four-year Skills for Employment Programme (SEP) on Wednesday (April 17) launched its Challenge Fund project which aims to support the generation of new employment opportunities by working with government, employers in the private sector, training and education institutions, and youths. The project plans to carry out innovative employment interventions, including skills training and job placement which provides higher wages for individuals and increases the productivity of firms in the growth sectors, reads a statement issued by UKaid.
According to the UKaid, the programme is strongly aligned with the Government of Nepal’s policy to create domestic employment.
“We have identified series of critical market failures where the allocation of resources is not efficient, leading to losses in social welfare. And we are pleased to launch the Skills for Employment Challenge Fund to help address these market failures. We hope to see new ideas and solutions and partnerships that develop viable business models, promote innovation and technology, and work with the Government of Nepal to improve the systems and institutions that deliver outcomes in Nepal,” shared Dr Rurik Marsden, head of office of DFID Nepal.