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The sum of US$275,908 (G$55,Michael Ford LSU Jersey,181,600) has been approved to cater to the improvement of two affiliates of the Ministry of Education.According to a release issued by the Caribbean Development Bank (CDB), the Project Steering Committee of the Standby Facility of the CARICOM Single Market Economy (CSME) was tasked with approving the funding for the local projects.Set to benefit from a grant of US$171,Taylor Lewan Michigan Jersey,856 (G$34,Wholesale Jerseys USA,371,Skal Labissiere Kentucky Jersey,200) is the National Accreditation Council (NAC). The funding will be made available under a project titled ‘Institutional Strengthening of the National Accreditation Council’.According to the release,Len Bias Maryland Jersey, the project is one that aims at improving the capacity of the NAC to regulate the delivery of post-secondary educational services that are critical to improving productivity in the public sector. It will also help to address the competitiveness of the private sector, and serve to position nationals to take advantage of the free movement regimes under the CSME; facilitate increased local,Derrick Rose Memphis Jersey, regional and international investments in Guyana’s education sector.The project will entail the development of a National Qualifications Framework based on the CARICOM Qualifications Framework.It will also embrace the development of a quality assurance and accreditation system based on international standards and best practices as well the drafting of regulations drafted to support the full implementation of the mandate of the National Accreditation Council of Guyana.Also receiving funding is the Council for Technical and Vocational Education and Training (CTVET). Moreover,Brad Kaaya Miami Jersey, a grant of US$104,LSU Tigers Jerseys,052 (G$20,810,400) for a project titled, ‘Institutional Strengthening of the Council for Technical and Vocational Education and Training’ has been approved.The primary objective of the project is to improve the capacity of the CTVET to deliver quality and robust TVET services which are accessible to all Guyanese nationals. It will also entail the development of a TVET Financing Strategy and a Gender-Responsive TVET Communications Strategy,De Veon Smith Michigan Jersey, aimed at increasing enrolment and promoting equal participation by girls and women in TVET courses.The funding is in fact the result of strategic mechanisms that were put in place to foster development among Caribbean territories.The CARICOM Single Market Economy (CSME) and CARIFORUM-EU Economic Partnership Agreement (EPA) are key agreements and tools for promoting trade among Caribbean countries and between the Caribbean and the EU and, by extension, supporting the achievement of the region’s development goals.The Standby Facilities of the CSME and EPA were set up by the European Union (EU) and are being funded through the 10th European Development Fund (EDF) with EUR3.45mn for the CSME Facility and EUR3.5mn for the EPA Facility. The Facilities are aimed at assisting Caribbean countries with furthering the implementation of the CSME and EPA at the national level.Each Standby Facility has a Project Steering Committee which comprises representatives of European Commission, CARICOM Secretariat and senior public servants. The Committees approve projects for funding and oversee the administration of the Facilities.Requests for funding are sent to CDB which then assists States to elaborate these requests into sound project proposals.The proposals are then reviewed and approved by the respective Steering Committee. The Bank is also the administrator for the Standby Facilities.