This paper presents an overview of the financing of vocational training in Latin America. The paper is organized in six sections. The first section discusses diversification of vocational education funding as a response to crisis, as well as to a more favorable climate within businesses. In the second section, factors of change in funding of vocational training are examined, including restructuring economies, the decline of the welfare state, and the new financial and public spending policies. Section 3 outlines the sources of funding for vocational training: tax rebates, grants and fellowships, subsidies, payroll taxes, withholding of production, contributions from the national treasury, sales of training services, sales of nontraining services, and co-financing agreements. In the fourth section, challenges and prospects for the future are suggested. These include the financial and institutional adaptation of vocational training institutes, financial scenarios for vocational training, and proposed agendas for finances and institutions. Financial management of vocational training institutes is examined in the fifth section, and the final section focuses on trends in financing (flexibility, efficiency, and equity). The report includes a glossary of acronyms, two tables, and two graphs. (KC)