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IFC and Turkish Education Firm Join Forces to Boost Youth Employability
Istanbul, Turkey, 19 March 2013-- IFC, a member of the World Bank Group,
is investing $6 million to help Istanbul-based education firm Plato expand
vocational training in Turkey and across the region, providing greater
employment opportunities for up to 6,000 students over the next five years.
IFC is participating in Plato’s $12 million, four-year plan to build 16
new training centers – 10 in Turkey, three in Central Asia and three in
the Middle East and North Africa. Each center will offer diploma and degree
courses focused on employment opportunities in media, public relations,
visual communications, graphic design, and technology.
"By providing quality, employment-focused education, Plato is helping
address one of the region's largest challenges--youth employability,"
said Guy Ellena, IFC Director for Manufacturing and Services in Europe,
Middle East and North Africa. "Businesses like Plato can have a real
impact as they expand in Turkey, and take their successful approaches
to new and challenging markets such as Kyrgyzstan, Kazakhstan, and Egypt.”
Tolga Yazıcı, Plato Chairman, said: “Educators
should proceed on the understanding that today’s youth do not lack the
capacity, but have rather been pointed in the wrong direction. At Plato,
we believe that education for employment is correct alignment and the most
efficient way to unleash that capacity.”
IFC’s investment in Plato is its first under E4E, a new education initiative
for Arab Youth that makes job-oriented education a top priority. Launched
in 2011, E4E aims to provide youth in the Middle East and North Africa
with skills that are relevant to the marketplace by investing in education,
engaging stakeholders, and enabling solutions to provide Arab Youth a better
The investment in Plato includes Central Asia and Turkey, where closing
the skills gap and helping young people gain the necessary skills for today’s
competitive job markets are also priorities.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, mobilizing
capital in international financial markets, and providing advisory services
to businesses and governments. In FY12, our investments reached an all-time
high of more than $20 billion, leveraging the power of the private sector
to create jobs, spark innovation, and tackle the world’s most pressing
development challenges. For more information, visit www.ifc.org.