AAAP in the Media
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Liberia -Program for Advancing Youth Entrepreneurship Investment (PAYEI)
In Liberia, the unemployment rate is estimated at 85% with the youth (15-35 years) accounting for 75%. The youth population (15-35 years) is growing 3% per annum on average and currently makes up nearly 40% of the country’s total population of about 5.2 million. Out of the young working population, 90% face vulnerable or irregular employment. Youth, not in employment, education, and training (NEET) amount to 45% of youth (15-24 years).
Employment creation in Liberia faces extraordinary challenges. A significant number of youths are engaged in the development of MSMEs – or aspire to be – yet many of them operate in the informal sector with low productivity due to limited access to financial and non-financial services which are hindering their growth. While limited education and industry and business skills may be impeding youth entrepreneurship and MSME development, weak infrastructure, limited finance, low institutional capacity, and other structural issues are limiting the prospects for rapid and sustainable MSME development and the generation of jobs
The overarching goal of the project is to foster an optimal environment for the development and promotion of youth entrepreneurship and youth-led businesses in Liberia by establishing sustainable vehicles and mechanisms to deploy financial services and non-Financial Services. This is achieved through:
- Establishing governance and stewardship for entrepreneurship
- Strengthening support to entrepreneurship and SME development
- Unlocking accessible financing to young entrepreneurs, youth-led growing small businesses and established SMEs.
- Conducting labor market assessment to identify potential adaptation jobs using an established adaptation taxonomy
- Building capacity in enterprises for climate resilient jobs and entrepreneurial opportunities in adaptation by embedding training into local institutions such as TVET centres
- Propose recommendations to create adaptation jobs through existing MDB investments in the country
- Create at least 1050 direct jobs (including 30% climate adaptation jobs)
- Support at least 300 Youth-led enterprises
- At least 1000 youth to be trained in entrepreneurship and business development to secure formal work or self-employment
- Improved support systems and frameworks for entrepreneurship that ensure young entrepreneurs, youth-led growing small businesses, and established SMEs receive the necessary guidance, mentorship, and resources to thrive
- Enhanced ecosystem that provides comprehensive support to entrepreneurs and SMEs. This includes access to business development services, training programs, networking opportunities, and technical assistance
USD 17 Million (African Development Bank, OPEC, EU)
African Development Bank participates in the World Circular Economy Forum (WCEF)
What: African Development Bank participates in the World Circular Economy Forum (WCEF)
Who: African Development Bank, Nordic Innovation and the Finnish Innovation Fund Sitra, with international partners
When: 30 May - 2 June 2023
Where: Helsinki, Finland and online
A delegation led by African Development Bank Director of Climate Change and Green Growth Anthony Nyong, is at the 2023 World Circular Economy Forum (WCEF2023) in the Finnish capital Helsinki.
WCEF2023 is the seventh edition of the annual forum co-organised by Nordic Innovation and the Finnish Innovation Fund Sitra, with international partners, including the African Development Bank. The forum brings together business leaders, policymakers and experts from around the world to present the best circular economy solutions. WCEF examines how societies and businesses can seize new opportunities to accelerate the global transition towards a circular economy to achieve the UN Sustainable Development Goals. WCEF is the world’s best known neutral global circular economy event and platform for the global circularity movement.
To leverage and build on the results of last year’s WCEF and showcase circular economy ambition in Africa, a strong engagement of the African Development Bank is planned at WCEF2023. This includes speaker roles at plenary sessions, side events and hosting an African delegation of six participants from member countries of the African Circular Economy Alliance (ACEA) and African organisations to participate and speak at the event alongside the Bank’s mission team.
African Development Bank Director of Climate Change and Green Growth Anthony Nyong will participate in a guided dialogue during a session titled “Unlocking Finance for a circular and regenerative economy” organised by Circle Economy together with European Investment Bank (EIB). ACEA, whose secretariat is based at the African Development Bank’s headquarters in Abidjan, Côte d’Ivoire, will join in a session titled “Circular strategies and road maps,” organised by The Global Alliance on Circular Economy and Resource Efficiency.
The African Development Bank will host a stand at the WCEF Exhibition Area. This will give the opportunity to African Circular Economy Facility (ACEF), ACEA and its partners to showcase solutions to a global audience to attract partners and financiers for scaleup.
The Bank organises / has interventions in the following sessions:
TUESDAY, 30 MAY
Plenary Sessions at Helsinki Fair Centre
9:30-10:30
IFI CEN high-level working meeting
13:30 - 14:45
Unlocking finance for a circular and regenerative economy
THURSDAY, 1 JUNE
Accelerator Sessions, venues across Helsinki
8:30-13:00 (UTC+3)
Place: Messukeskus conference centre, Messuaukio 1, Helsinki and online
Accelerator session: African Voices to circular Economy
10:00 – 13:00
Accelerator session: International Financing and Funding for World Circular Economy Business Opportunities
16:00 – 17:30
Accelerator session: A circular economy that works for everyone: ensuring a just and jobs-rich transition to a sustainable future for all
Official WCEF2023 website: https://wcef2023.com/about/
Accelerator Session: https://wcef2023.com/sessions/african-voices-showcasing-circular-economy-ambition-in-africa/
Confirm your live attendance as soon as possible by registering through this link
Livestream on the WCEF2023 website and YouTube channel.
Media contact: Sonia Borrini, Communications and Knowledge Management Specialist, Climate Change and Green Growth Department | email : s.borrini@afdb.org