Sponsoring Agency: Regional Challenge Fund
Type of Fund: Grant
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 04/30/2021
Size of the Fund: More than $1 Million
The Regional Challenge Fund (RCF) is a new program that seeks to increase the productivity and competitiveness of businesses in the Western Balkans 6.
Businesses need skilled employees. And young people need to build the right skills, which can be difficult in today’s challenging environment. The RCF will help bridge this gap by funding investments in the equipment and infrastructure that vocational training institutes (VTIs) need to help their students build the skills that today’s companies demand. Specifically, the RCF supports VTIs that use a cooperative training approach that has been found to be more effective than traditional vocational education and training (VET).
The RCF is commissioned by the German Federal Ministry for Economic Cooperation and Development to KfW Development Bank and executed by the Western Balkans 6 Chamber Investment Forum (WB6-CIF), a joint initiative of chambers of commerce from the region.
Funding Information
The Fund will disburse EUR 18.8m over five years to support investments in cooperative training projects in the WB6 economies. The grants will be allocated through a minimum of five calls for proposals from vocational training institutes and private sector companies. The goal is to fund up to 60 projects during the programme period.
Who Can Apply?
Applications are open to consortia of one vocational training institute and at least two enterprises. The consortia agree to cooperate to implement cooperative VET courses that result in nationally recognized certificates. The consortia may operate in any of the WB6 economies.
Opportunities for Applicants
Interested parties should apply because:
• The RCF helps VTIs align their programs with the needs of companies by investing in the modern training equipment and facilities that businesses use today.
• It supports the development and systematic use of cooperative training methods and encourages the introduction of new technologies.
• It makes it easy for businesses to partner with the right VTI to build a training program that fits their needs, thus addressing human resource shortages and building capacity where it is needed most.
More information at: https://rcf-wb6.org/1st-call-for-expression-of-interest/
