The African Development Bank Group (AfDB) has approved a €139.68 million loan to support youth employment and entrepreneurship in Côte d’Ivoire. The initiative focuses on training young people and fostering job creation in key sectors with significant growth potential.
The funding includes €126.32 million from AfDB’s commercial window and €13.36 million from its concessional arm, the African Development Fund. It aims to enhance socio-professional integration by equipping young Ivorians with skills and supporting micro, small, and medium-sized enterprises.
Key Project Highlights
- Youth Training: Over 8,700 young people, half of whom are women, will be trained in renewable energy, digital economy, agribusiness, blue economy, and textile and clothing industries.
- Job Creation: The initiative is expected to generate 43,216 direct jobs and 153,094 indirect jobs by 2030, with 50% reserved for women.
- Youth Entrepreneurship Investment Bank: A new institution will provide financial access, technical support, equity financing, and loan guarantees to young entrepreneurs.
- Infrastructure and Support: The project will also train 214 teacher-trainers and strengthen entrepreneurship support organizations. The national training center for harbor master’s officers in Abidjan will be upgraded with advanced technical facilities, including a port maneuver simulator.
Aligning Training with Market Needs
The initiative will work with trade associations, private companies, incubators, and agri-industrial clusters to ensure that training aligns with market demands. It will also leverage successful models from AfDB’s Enable Youth program to enhance outcomes in the agribusiness sector.
Joseph Ribeiro, AfDB’s Deputy Director General for West Africa, emphasized the project’s importance: “This funding will help Côte d’Ivoire tackle youth employment challenges by equipping young people with skills essential for a productive private sector.”
This initiative underscores AfDB’s commitment to fostering economic growth and empowering youth in Africa.