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The Legislative Assembly’s Finance Committee issued a favorable opinion to amend the 2026 Budget Law and allocate US$7,230,315 to the Ministerio de Economía (MINEC). These funds will be used to strengthen programs aimed at improving employment opportunities, job training, and support for entrepreneurs, particularly among vulnerable groups.
The initiative seeks to reinforce three key components: the Program to Promote Employability and Improve Access to Wage Employment, the Project to Promote Entrepreneurship Opportunities, and the Institutional Strengthening–Implementing Unit program. The goal is to expand beneficiaries’ training capabilities and facilitate their entry into the labor market or the development of their own businesses.
During the review of the proposal, Marlon Herrera, director general of Investment and Public Credit at the Ministry of Finance, explained that the funds come from a US$150 million loan signed with the Banco Internacional de Reconstrucción y Fomento (BIRF) in april 2024. Although MINEC already had an allocation to carry out these projects, the institution requested additional funds to strengthen their implementation.
Of the total funds, $4.55 million will be allocated to initiatives directly focused on employability. These resources will finance training programs at specialized centers, training for young people through the Instituto Nacional de Capacitación y Formación (INCAF),as well as the provision of stipends and subsidies to participants during their learning process.
Photo: Legislative Assembly
The training programs will focus on areas with high labor demand, including sectors such as retail and hospitality, with the goal of helping beneficiaries acquire skills that will facilitate their access to formal employment. In addition, the financial support aims to reduce barriers to training for people with limited financial means.
Another key component will be the promotion of entrepreneurship. To this end, US$1.53 million will be allocated to provide incentives and seed capital to young entrepreneurs, as well as to finance the purchase of materials, furniture, and computer equipment necessary for the development of their business ventures.
According to the authorities, the beneficiaries of these programs will receive preliminary training on topics related to employability and business development, with the goal of increasing their chances of generating income through formal employment or by creating and strengthening new businesses.
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In addition, US$1.15 million will be used for consulting services, the development of information systems, and the strengthening of the unit responsible for implementing the program. This investment aims to improve the management, monitoring, and evaluation of the initiatives to be implemented with the approved funds.
With this budget allocation, the government seeks to strengthen tools for job training and entrepreneurship, promoting greater economic opportunities for young people and other vulnerable groups, while also driving job creation and the development of productive capacities in the country.
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