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The Regional Challenge Fund (RCF) enhances the sustainable competitiveness of businesses in the WB6 on the way to the EU single market through financing VET providers addressing skill needs in cooperation with companies.

Youth unemployment, combined with a lack of skilled labour among the enterprises, characterise the economic situation in the Western Balkans. Hence, the aim of the Fund is to increase the employability of VET students by reinforcing a cooperative training approach in the economies of the Western Balkans 6: Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia.

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The Regional Challenge Fund (RCF) is a financing facility designed to increase youth employability and boost the competitiveness of enterprises in Western Balkan 6 by funding investments in selected cooperative training projects that are implemented through partnerships between vocational training institutes and the enterprises. The German Federal Ministry for Economic Cooperation and Development commissioned 64.43 million EUR for the RCF, and the Swiss Government, represented by the SDC Swiss Development Cooperation, co-financed an additional 10 million EUR. The funds were commissioned to the KfW Development Bank and executed by the Western Balkans 6 Chamber Investment Forum (WB6-CIF), a joint initiative of chambers of commerce from the region.

German Development Bank (KfW)

Since its founding in 1948, KfW (German Development Bank) has remained true to its mission of supporting change and encouraging forward-looking ideas – in Germany, Europe and throughout the world. The projects and programmes promoted by KfW Development Bank are proposed by the governments of the partner countries so that the respective country’s development strategies and structures form the basis of cooperation.

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Western Balkans 6 Chamber Investment Forum (WB6 CIF)

The Fund is executed by the Western Balkans 6 Chamber Investment Forum (WB6 CIF), a joint initiative of chambers of commerce from Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Montenegro and Serbia. The chambers established a platform of cooperation in 2017 with the aim of providing a joint voice to the business community in the region, facilitating inter-business contacts and promoting the region as one investment destination.

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Swiss Agency for Development and Cooperation (SDC)

The Swiss Agency for Development and Cooperation (SDC) is the agency for international cooperation of the Federal Department of Foreign Affairs (FDFA). The SDC is responsible for the overall coordination with other federal authorities of development cooperation and cooperation with Eastern Europe as well as for humanitarian aid delivered by the Swiss Confederation. In its economic development cooperation, Switzerland is working to improve framework conditions and increase cooperation with the private sector. Switzerland’s efforts contribute to sustainable economic growth and prosperity.

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