Washington, D.C.—The Millennium Challenge Corporation today signed a five-year, $140 million compact with the Government of Georgia that will invest in improving workforce development and human capital.
“Georgia is a partner that understands our approach to development,” MCC CEO Daniel W. Yohannes said at the signing ceremony in Tbilisi. “The compact we signed today is a $140 million investment in an area of critical importance for long-term economic growth: the education of Georgia’s workforce.”
The compact seeks to increase Georgians’ earning potential by addressing weaknesses in quality of education in science, technology, engineering and math (STEM) and strengthening Georgia’s ability to attract investment in fast-growing sectors such as energy and transportation.
The compact will build on recent policy reforms that Georgia has made in its education sector and includes three projects:
• The Improving General Education Quality Project will focus on teacher training and school rehabilitation.
• The Industry-Led Skills and Workforce Development Project will target improvements in technical skills education.
• The STEM Higher Education Project will aim to modernize higher education in engineering programs leading to bachelor degrees.
These investments will strengthen the capacity of Georgians to meet the needs of Georgia’s economy, create jobs and better position Georgia to be a strong trade partner of the United States. American firms exported more than $540 million in goods to Georgia last year, up from $300 million in 2010. Learn more at www.mcc.gov/georgia