The African Development Bank (AfDB) has approved $41 million funding to improve the employment prospects of graduates and students in Malawi through training and skills development.

The financing, the AfDB said February 10, 2012 is to support efforts of the Malawian government in improving the quality and relevance of skills for job creation.

The main beneficiaries of the project will be students and teachers in key institutions of Higher Education and Technical, Entrepreneurial, Vocational Education and Training (TEVET) in Malawi, according to the Bank.

Other beneficiaries will include secondary school graduates, teaching staff, and prospective employers.