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Youth Employment—A Fundamental Challenge for African Economies

Deon Filmer's picture
In Addis Ababa, Ethiopia’s sprawling capital, Mulu Warsa has found a formal-sector job as a factory worker thanks to her high school education. In Niamey, a city at the heart of the Sahel region, Mohamed Boubacar is a young apprentice training to be a carpenter. And in Sagrosa, a village in Kenya’s remote Tana Delta district, Felix Roa, who works on a family farm and runs a small shop, dreams of a better life if he can find the money to expand the business and move to a more urban area. His family is too poor to support him through secondary school.
 

Egypt Development Marketplace Awards Grants!

Dougg Jimenez's picture

The Egypt Development Marketplace 2013 grantees, partners and DM team.Thirty-five organizations will be awarded $800,000 by the Egypt Development Marketplace (DM) funded by The World Bank Group (WBG) and its local and international partners. Each of the grantees will receive $25,000 to scale up their business model that would generate employment in the agriculture and handicraft sectors. Winning organizations will beshowcased at a DM sponsored event. A number of financial institutions, social entrepreneurs, investors, development organizations, and government officials will also participate in the event to bring attention to organizations implementing innovative solutions to unemployment in the country.

Overwhelming response to “Call for Proposal”

The call for proposals was launched in November and closed in January. At closing, 180 proposals from 171 organizations were submitted for funding. Preference was given to projects implemented in Upper Egypt and the majority of proposals were for projects in Minya. Applicants comprised the following types of organizations: 89 percent were Non-governmental Organizations (NGOs), 7 percent were private companies and 4 percent were foundations.

From its conception, the Egypt DM has been designed to surface and build the skills of organizations creating jobs in the country, primarily in the poorest areas with an emphasis on Upper Egypt. To generate interest in the competition and to ensure organizations operating in targeted areas applied, outreach events were held in Assyut, Qena, Aswan, and Minya. As a follow up, skill-building workshops in business planning were held for each of the 70 finalists to ensure high quality proposals were submitted.

World Bank Group and development partners team up on infrastructure investment

Angie Gentile's picture

Flanked by the finance and development ministers of France and Germany, World Bank Group President Robert B. Zoellick launched two initiatives today that together are expected to mobilize more than $55 billion in financing for infrastructure projects over the next three years.

The multibillion dollar initiatives—the Infrastructure Recovery and Assets (INFRA) platform and Infrastructure Crisis Facility—were created to address the falloff in funding for the construction of roads, water systems, power generation and distribution, and other critical infrastructure.

There is no doubt infrastructure plays a huge role in economic growth and development, Zoellick said.

“In this crisis, we will need more and more to identify creative ways to mobilize additional financing. This facility sends an important market signal,” encouraging the private sector to continue infrastructure investment and development.

April 25, 2009 - Washington DC. World Bank/IMF Spring Meetings 2009. (l-r) Christine Lagarde, Minister of Finance, France; Roger Morier, World Bank; Robert B. Zoellick, World Bank President; Hannfried von Hindenburg, IFC; Heidemarie Wieczorek-Zeul, Development Minister, Germany. Credit: Simone McCourtie, World Bank

France and Germany became the first to sign on to the Infrastructure Crisis Facility with commitments of about $660 million through German development bank KfW and roughly $1.3 billion through French development bank Proparco.

INFRA is designed to help countries offset the negative effects of the financial crisis on their infrastructure services and investment programs, with up to $45 billion available over the next three years. Assistance will be global, but Africa is expected to see a large share of the funding.

The Infrastructure Crisis Facility, administered by IFC, a private sector branch of the Bank Group, is expected to attract more than $10 billion to help bridge the infrastructure financing gap.

At today’s signing, German Development Minister Heidemarie Wieczorek-Zeul appealed to industrialized countries to support the initiative and take into account the situation in developingFrench Finance Minister Christine Lagarde countries. “They’re not responsible for the crisis. We have a special responsibility to be at their side.”

French Finance Minister Christine Lagarde added: This is a time “when we can put our money where our mouth is and commit to deliver…I think the World Bank has done an outstanding job dealing with issues that are difficult. This is a good illustration of how projects should be conducted. They should be focused where they can actually make a difference.”

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On a related note, I caught up earlier today with the Bank’s director for energy, transport and water, Jamal Saghir, who said the Bank’s Board has approved $9 billion in infrastructure projects already this fiscal year. That puts the Bank 47 percent ahead of the amount of infrastructure funding approved this time last year.

Saghir gave a shout-out to staff, who he credited with working hard to speed up project implementation to respond to the crisis.

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