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UNDP Vocational Education and Training (VET) Project, in line with activities aimed at modernization of the VET system in Armenia, extends also its support to the financial capacity building of the VET institutions by development of comprehensive Income Generation (IG) Model highlighting key “start up” considerations for VET colleges to generate additional resources. The Model was developed in late 2009 and approved in 2010 by RoA Ministry of Education and Science as an additional tool to facilitate income generating activities of the VET institutions based on the examples of 12 pilot VET colleges as “good practice cases”. An international expert Jorn Nielsen, with the support of two local experts on public finance and VET system, developed the Model.
IG Model frameworks and principles guide the process of income generation, set the common challenges and way to overcome them, identify important management and governance considerations associated with income generation activities and provide overview of good practices that can be replicated on the national level.
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