AfDB aims to create 25 million jobs for African youths.
19.06.2017-Nairobi/ The African Development Bank (AfDB) aims to create 25 million jobs and positively impact a total of 50 million youth through the implementation of the Jobs for Youth in Africa (JfYA) Strategy (2016-2025).
The strategy highlights on integration, innovation and investment as the key strategic areas.
Through integration, the Bank will equip itself (projects, staff and systems) and regional member countries by means of financial support and policy dialogues to become engines for job creation.
"We are integrating youth employment and entrepreneurship components into new Bank projects, and are working very closely with regional member countries to develop policies that promote decent jobs for youth,” said Akinwumi Adesina, President of the AfDB.
Through Investment, the Bank will undertake interventions, such as ‘Boost Africa’, to catalyse private sector investment by expanding access to capital, through direct and indirect debt and equity investments.
This is also complemented by guarantees and first-loss provisions to reduce risks for banks’ lending to SMEs, especially those owned or managed by youth.
Through the implementation of the Innovation pillar of the JfYA Strategy, AfDB will create roll-out flagship programs in agriculture, industrialization and ICT as well as an innovation lab that will test, assess, and scale promising solutions to accelerate job creation in Africa.Investing in skills through technical and vocational education will be essential to enabling young people to find jobs and business opportunities.
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