Skill Impact Bond Initiative:
Under the Skill Impact Bond (SIB) initiative, nearly 18,000 first-time job seekers have been skilled, with 72% of them being women
- The Skill Impact Bond (SIB) is India’s first development impact bond for skilling and employment.
- Launched by the National Skill Development Corporation (NSDC) in collaboration with global partners
- Aim is To benefit 50,000 young Indians (over 4 years), with a focus on empowering women (60% of beneficiaries)
- It is a public-private partnership (PPP) model that emphasizes providing employment opportunities to trainees rather than just issuing training certificates.
- The SIB addresses the impact of the pandemic on women and employment, removes barriers to women’s workforce retention, and leverages private sector capital and expertise.
- It also works towards strengthening India’s technical and vocational education ecosystem through knowledge exchange and mainstreaming good practices.