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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
\u201cIn June and July of this year, an African Development Bank\u2019s technical review committee approved eight project proposals to receive funding in an important milestone for its Jobs for Youth in Africa Strategy.<\/p>\n\n\n\n
\u201cApproved 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,\u201d the statement noted.<\/p>\n\n\n\n
It added that the fund placed emphasis on employability, entrepreneurship and job creation through enterprise and value chain development.<\/p>\n\n\n\n
\u201cThe fund has also supported countries that implement policies conducive to private sector development and youth employment.<\/p>\n\n\n\n
\u201cThe call for project proposals reflects the Human Capital, Youth and Skills Development Department\u2019s strategic intent to leverage and integrate youth employment and employability into the Bank\u2019s operations in African Development Fund countries,\u201d said the statement.<\/p>\n\n\n\n