IME Started a New Project – Groundbreaking Innovative Financing of Training in a European Dimension (GIFTED)

IME Started a New Project – GIFTED

Groundbreaking Innovative Financing of Training in a European Dimension

In January 2012 five European partners launched a new initiative  – the GIFTED Project that aims to develop and validate – through financial stress testing – an innovative funding model based on the concept of a revolving fund that pools public and private resources, whose proceeds are then devoted to the funding of Adult Learning and Training.

This innovative funding mechanism would lie on the idea of establishing a revolving fund that pools financing from both the private and public sector and invests and allocates the funds for adult learning and vocational training purposes. The revolving fund manages the available finances to generate

(i) self sustainability of the system (i.e. cover operating costs and maintain part of the initial capital);

(ii) facilitated access to finance for Training Providers (i.e. soft loans for those adult learning and training providers who need capital to develop new curricula, renovate facilities, etc) or start up capital to new ventures in the field of training;

(iii) facilitated access to finance to SMEs to invest in training and adult education (i.e. grants, matching grants, soft loans – depending on type, size, content, sector, etc)

The key objective of the GIFTED Project is to improve the availability and transparency of access to finance for operators and beneficiaries of Adult Learning and Training.

Partners

The GIFTED project is implemented by a consortium of five partners, each representing specifically relevant methods, skills and expertise, ensuring a sound and thorough approach for complete and reliable deliverables. The consortium represents excellence at EU level in the respective fields of expertise of partners:

PNO Austria, a pan-European consulting company with extensive experience in structuring and brokering public private partnerships in the area of AL.

IDP European Consultants of Italy, an SME specialised in EU Policies and Programmes that brings into the consortium the technical capacity of multiple years of experience in modelling for financial sector development.

Católica-Lisbon School of Business & Economics is one of the best Business Schools in Portugal, and the only Portuguese School to reach the Top 35 of the Financial Times European rankings. CATÓLICA-LISBON has a world class faculty with direct experience in financial modeling and testing.

Institute for Market Economics, a prestigious Think Tank from Bulgaria devoted to the research, analysis and identification of public policy priorities in the EU and MSs with extensive research and policy making experience in public finances and funding of public goods, among which AL.

De UNIE, a leading Dutch Trade Union with experience in public policy from the perspective of the labour market, representing in the consortium the end users and beneficiaries of AL.

The multidisciplinary nature of the Consortium adds value to the proposal for its inherent complementary competencies. All partners contribute actively to the implementation of all activities.

Partners are available to provide additional information and details about the GIFTED projects and next activities.