• ECCE
  • School Edu
  • Higher Edu
  • Edu Tech
  • Skills
  • Jobs
  • Advertise
  • Login
[t4b-ticker]
  • Home
  • Latest
  • Spotlight
  • Perspective
  • Interview
  • Videos
  • Events
  • Shop
  • Student Kiosk
No Result
View All Result
  • Home
  • Latest
  • Spotlight
  • Perspective
  • Interview
  • Videos
  • Events
  • Shop
  • Student Kiosk
No Result
View All Result
Education21
Home Latest

Skill Impact Bonds on way to achieving targets of skilling 50,000 young Indians, reaches 18000 mark

education by education
May 31, 2023
in Latest, Skills
0
Skill Impact Bonds on way to achieving targets of skilling 50,000 young Indians, reaches 18000 mark
0
SHARES
114
VIEWS
Share on FacebookShare on Twitter

Launched in 2021, the USD 14.4 million Skill Impact Bond is well on its way to achieving its bold targets of skilling 50,000 young Indians, 60% of whom will be women, and help them secure and retain jobs.  Till date, the Skill Impact Bond has successfully supported close to 18,000 first-time job seekers from low-income families, of whom 72% are women from 18 states and union territories. Skill Impact Bond is a financial innovation helping young people build core skills and competencies required to successfully enter and grow within the workforce.

The impact bond is strategically designed to link fund flows to outcomes such as certification, job placement and retention, moving beyond a focus on enrolment alone. This focus on outcomes, rather than inputs and outputs, aligns incentives for all those involved and enables all partners to work together towards a shared goal. Alongside the high female enrolment rates, the first cohort of Skill Impact Bond indicates a promising retention rate, where 1 in 2 women who have enrolled in the training have continued to work in wage employment for three months.

Pioneered by the National Skill Development Corporation (NSDC) – a one-of-a-kind public private partnership model in India under the aegis of the Ministry of Skill Development and Entrepreneurship – and a coalition of mission-aligned partners, the Skill Impact Bond is aimed at transforming the way skill training programmes are implemented, with a focus on bridging the gap between skilling and employment, especially for women. Alongside the NSDC, the coalition draws strength from a set of funders and partners who have deep experience with innovative finance, skilling, gender, monitoring and evaluation, and data-driven decision-making – the British Asian Trust, the Michael & Susan Dell Foundation, The Children’s Investment Fund Foundation (CIFF), HSBC India, JSW Foundation and Dubai Cares, FCDO (UK Government), the United States Agency for International Development (USAID), Dalberg Advisors, and Oxford Policy Management. The skill training is delivered on-ground by Gram Tarang Employability Training Services Pvt Ltd, Learnet Skills Ltd, Magic Bus India Foundation, PanIIT Alumni Reach For India Foundation, and Tata STRIVE, each partner selected for their capacity to innovate, scale, and reach diverse target groups.

Even though India has seen tremendous effort and investment being channelled into improving employment opportunities from both the private and public sector, employment rates – particularly for women – remain low. The country’s female labour force participation rate (FLPR) has been consistently low at around 30% and research has found that only 10 out of 100 women enrolled in skilling programmes continue to stay in jobs for three months. Recognising this, the NSDC and a coalition of partners launched the four-year Skill Impact Bond in 2021 as India’s first development impact bond to drive an outcomes-based approach to focus on job placement and retention.

Applauding the efforts under the Skill Impact Bond, Atul Kumar Tiwari, Secretary, Ministry of Skill Development and Entrepreneurship said, “Skill Impact Bond has demonstrated its effectiveness in fostering collaboration between governments, private sector entities, and civil society organisations. And by leveraging such innovative financing mechanisms, we are not only increasing the availability of resources but also ensuring their efficient allocation to tackle the persistent challenges of skill gap and unemployment. The initiative has been successful as it operates on the principle of outcome-based funding and, I must say that the results achieved till now look encouraging. National Skill Development Corporation is keen to promote good practices and knowledge exchange to catalyse further innovation in the skilling ecosystem.”

The coalition will attempt to drive up retention with every cohort, and speaking on the progress, Sangita Jindal, Chairperson, JSW Foundation said, “Our vision is to empower communities with sustainable livelihoods and recognise the crucial role of today’s youth in shaping the future. Through the Skill Impact Bond, we leverage our expertise in skilling to ensure lasting impact for India. Applying an outcomes-based approach to our funding drives social transformation, moving beyond outputs. With each cohort, the focus on outcomes inspires the skilling and employment sectors nationwide.”

Early evidence from the impact bond’s first few cohorts shows that higher retention of women in the workforce could be linked to training partners being able to address deeply entrenched socio-cultural barriers that typically prevent women from seeking and staying in jobs. This has been done by establishing contextualised selection and counselling processes, not just with the candidate but also with parents, and tackling invisible issues such as poor health and nutrition. Similarly, the training partners have designed fit-for-purpose delivery methods and curricula, which are aligned to the needs of employers and aspirations of young women. Lastly, post-placement tracking and guidance such as regular check-ins with candidates and migratory assistance are imperative to women feeling comfortable taking jobs, adapting to new environments and challenges and reducing dropouts.

Beyond the innovative financial design that drives the Skill Impact Bond, the coalition has prioritised use of performance management, technology, data-driven decisions, and tight monitoring and evaluation to ensure that the impact bond is robust, rigorous, and builds a strong evidence base. This also aids its longer-term goals – to create a paradigm shift within the skilling and employment ecosystems from their current state to an aspirational state where focus is centred around gainful employment, retention in the workforce and overall well-being.

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • RSS Feed
Previous Post

Coventry University Group to open the India Hub, appoints Leena Arora Kukreja as the Regional Managing Director

Next Post

FICCI Arise white paper urges bold reforms, advocates for profit schools, RTE 12(1)(c) vouchers, public funding of private schools

education

education

Related Posts

AISECT launches AI Literacy Mission, to Empower 10 million Youth by 2030
Latest

AISECT launches AI Literacy Mission, to Empower 10 million Youth by 2030

by education
October 17, 2025
Sri Lankan PM Harini Amarasuriya visits CM Shri School in Delhi, collaboration in edu discussed
Latest

Sri Lankan PM Harini Amarasuriya visits CM Shri School in Delhi, collaboration in edu discussed

by education
October 17, 2025
Made entirely in India, Muse Wearables’ new ecosystem lets users make secure, contactless payments by simply tapping their ring
Latest

Made entirely in India, Muse Wearables’ new ecosystem lets users make secure, contactless payments by simply tapping their ring

by education
October 13, 2025
NITI Aayog Unveils Roadmap on AI for Inclusive Societal Development
Latest

NITI Aayog Unveils Roadmap on AI for Inclusive Societal Development

by education
October 8, 2025
MoU signed for Skilling Project under PM VIKAS Scheme between Ministry of Minority Affairs and IIT Palakkad, Kerala
Skills

MoU signed for Skilling Project under PM VIKAS Scheme between Ministry of Minority Affairs and IIT Palakkad, Kerala

by education
October 8, 2025
Next Post
FICCI Arise white paper urges bold reforms, advocates for profit schools, RTE 12(1)(c) vouchers, public funding of private schools

FICCI Arise white paper urges bold reforms, advocates for profit schools, RTE 12(1)(c) vouchers, public funding of private schools

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • RSS Feed

Useful Announcements

  • All
  • Useful Announcements

Taparia Family Institutes 50 Full Scholarships at ISB

October 17, 2025

IN-SPACe Model Rocketry/CANSAT India Student Competition 2024-25 in Kushinagar from October 27-30

October 17, 2025

India Maritime Week 2025 from October 27–31, 2025, at the Bombay Exhibition Centre, Mumbai

October 17, 2025

Birla Open Minds Launches Experiential Learning Books for Grades 5 to 8

October 17, 2025

IC3 Brings Educators Back to Campus to Reconnect, Reflect, and Reimagine Counseling

October 17, 2025

Blockchain For Impact (BFI) launches ‘India Reimagined Fellowship’

October 17, 2025

Ashoka University opens Undergraduate Applications for 2026 intake

October 16, 2025

Macquarie University, Australia, announces the Vice-Chancellor’s International Scholarship; offers up to AUD $50,000 scholarship for Indian students

October 16, 2025

Riyadh Season 2025 kicks off with record-scale events and global collaborations

October 13, 2025
India to Unveil 17 German Translations and a Dedicated ‘India Stage’ at 77th Frankfurt Book Fair

India to Unveil 17 German Translations and a Dedicated ‘India Stage’ at 77th Frankfurt Book Fair

October 13, 2025

Download current issue Not available

https://online.pubhtml5.com/jlyo/bxvr/

Monthly Magazine : Feb 2024

Interactive (Quizzes/Surveys)

Start Monthly Quiz
Education21

An initiative in continuation of Curriculum Magazine, Education21.in, is a platform for New India that aspires to be a valuable innovator, partner and collaborator for a just and sustainable world. Continuing with our steady and 360 degree coverage of education system and skills landscape, we are here more oriented towards learner community.

Useful Links

  • About us
  • Team
  • Contact
  • Editorial opportunities
  • Subscriptions
  • Job Opportunities
  • Features

Important Links

  • Blog
  • Archives
  • People
  • Careerwise
  • Resources
  • Downloadable
  • Old issues

Newsletter

Subscribe to our mailing list to receives daily updates!

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • RSS Feed

Copyright © 2020 All rights reserved. Education21.

No Result
View All Result
  • Home
  • Latest
  • Spotlight
  • Perspective
  • Interview
  • Videos
  • Events
  • Shop
  • Student Kiosk

Copyright © 2020 All rights reserved. Education21.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Cleantalk Pixel