AfDB provides $7.3m for youth empowerment

The African Development Bank (AfDB), through its Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, has provided more than 7.3 million dollars for youth empowerment.

According to a statement from the bank on Tuesday, the fund provides project preparation and co-financing for bank projects and places emphasis on employability, entrepreneurship and job creation.

“In June and July of this year, an African Development Bank’s technical review committee approved eight project proposals to receive funding in an important milestone for its Jobs for Youth in Africa Strategy.

“Approved proposals will receive grant funding of more than 7.3 million dollars to operationalise their activities, creating several new enterprises and an estimated 20,000 jobs for youths across the continent,” the statement noted.

It added that the fund placed emphasis on employability, entrepreneurship and job creation through enterprise and value chain development.

“The fund has also supported countries that implement policies conducive to private sector development and youth employment.

“The call for project proposals reflects the Human Capital, Youth and Skills Development Department’s strategic intent to leverage and integrate youth employment and employability into the Bank’s operations in African Development Fund countries,” said the statement.


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