Higher-income countries are aging at unprecedented rates, creating skills shortages in critical sectors ranging from healthcare to construction to information technology. At the same time, many lower-income countries are experiencing booming youth populations, but many lack the skills needed to access quality work opportunities both at home and abroad. In Global Skill Partnerships (GSPs), origin and destination countries partner to invest in education and training systems in the origin country to meet skill needs in both countries. Through collaboration and innovation in skills development and migration management, GSPs cost-effectively expand domestic training capacity in the origin while facilitating the benefits of regularized skilled migration. This report reviews the state of knowledge of GSPs, considers terminology and approaches, provides a roadmap for policymakers who want to implement GSPs, and clarifies the role of multilateral development institutions in this pivotal agenda. Various GSP and GSP-like programs and pilots have already been implemented globally and financed through various sources, and this report reviews their essential features, challenges faced, and lessons learned for future initiatives. Before highlighting these examples, the report discusses the current global economic landscape, focusing on demographic and education trends and why they call for international partnerships to invest in education and training for workers to participate in domestic and international markets.