Manila, Dec. 3 -- The Asian Development Bank (ADB) has approved a USD400-million policy-based loan to support the Philippine government's efforts to reduce the number of out-of-school and unemployed young Filipinos, one of the factors impeding more inclusive growth in the country.
The Facilitating Youth School-to-Work Transition Program, subprogram 2, supports government reforms aimed at improving the employability of young Filipinos through labor market programs and providing easier access to on-the-job training schemes to help them secure and retain jobs.
The program builds on ADB's previous support to the government's employment initiatives, particularly the Department of Labor and Employment's design and roll-out of the Jobstart Phili...