AfDB, 2019-2022, Jobs for Youth in Africa / YEI MDTF
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The Youth Entrepreneurship and Innovation Multi-Donor Trust Fund (YEI MDTF), established in 2017, is the grant vehicle supporting the ten-year Jobs for Youth in Africa (JfYA) Strategy adopted by the African Development Bank (AfDB). The JfYA Strategy objective is to create 25 million jobs and equipping 50 million youth with employable skills in Africa by 2025. ...
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- B03 - Contributions to specific-purpose programmes and funds managed by international organisations (multilateral, INGO)
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More about the contribution
The Youth Entrepreneurship and Innovation Multi-Donor Trust Fund (YEI MDTF), established in 2017, is the grant vehicle supporting the ten-year Jobs for Youth in Africa (JfYA) Strategy adopted by the African Development Bank (AfDB). The JfYA Strategy objective is to create 25 million jobs and equipping 50 million youth with employable skills in Africa by 2025. YEI MDTF provides financing to support Bank initiatives regarding youth-led micro, small and medium sized enterprises (MSMEs) in the formal and informal economy with business development services as well as supporting its African member countries in implementing enabling environment reforms conductive to job creation. It adresses three areas: (i) Business Development Services (BDS), including access to finance, to youth-led startups and MSMEs in growth enhancing sectors (mainly Agriculture, Manufacturing, and ICT) targeting those with viable products and sustainable business models leading to growth and job creation; (ii) Research and Studies, and their dissemination, to expand the existing knowledge base on building a reliable African entrepreneurship ecosystem and identify the most efficient and sustainable solutions that can be replicated and scaled at national, regional and continental levels; and (iii) Support to countries' strengthening of the enabling policy and regulatory frameworks conducive to MSME and private sector development including dialogue, and supporting countries to undertake labour and economic reforms through capacity building, transfer of knowledge, best practices and regulatory support. Available resources are used for funding the acquisition of consultancy services, the provision of training and capacity building, the provision of technical assistance in the preparation of policies and studies, and other technical assistance activities as may be mutually agreed upon between the partner and funders. Eligible recipients of support include formal and informal youth-led startups and MSMEs of which at least 50% are women-led, business development service providers and governments aiming at a strengthened enabling environment for private sector development and youth employment. By supporting youth-led startups and MSMEs with skills development and bringing them into formality, the Trust Fund contributes to increased productive and decent employment, job creation and inclusive growth.
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Result
The following results are among the achieved results, from 2022 report: In 2022, the YEI MDTF committed US$ 8.4 million for six new projects in 13 countries. -Through grant financing, the YEI MDTF successfully catalyzed over US$ 103 million in Bank investment and US$ 15.8 million in co-financing to support young entrepreneurs in Africa. -The year saw the approval of diverse projects across labor-intensive sectors. -Specifically, 23% of the projects focused solely on BDS; 12% on providing support to regional. -For the first time, projects were also committed in Tanzania, Morocco, Tunisia, and Benin. -In the 20182022 period, the YEI MDTF committed US$ 31.4 million for 33 projects in 23 countries. -Through grant financing, the YEI MDTF successfully catalyzed US$ 341 million in Bank investment and US$ 421.4 million in co-financing. Over the past two years, YEI MDTF has more than tripled the size of its portfolio. This represents a project commitment rate of 91% of the resources budgeted for projects between 2018 and 2022. The YEI MDTF portfolio showcased a remarkable diversity of interventions aimed at boosting youth entrepreneurship on the continent. According to the report: -The portfolios largest share, accounting for 54%, features projects that seamlessly integrate the three pillars of intervention, BDS, enabling environment, and research and feasibility studies.
The objective of the Jobs for Youth in Africa Strategy (2016-2025) is to create 25 million jobs and equip 50 million youth with employable skills by the end of the strategy period. The overarching impact objective of the Youth Entrepreneurship and Innovation Multi Donor Trust Fund supporting the implementation of the Strategy, is reduced unemployment, vulnerability and poverty among the youth. Directly linked to the Trust Fund's three support areas, the impact objective will be achieved by three outcome objectives: (i) increased access to finance and business survival of youth-led MSMEs who receive BDS (business development services) through the YEI MDTF; (ii) direct jobs created by youth-led MSMEs supported through activities of the YEI MDTF; and (iii) increased knowledge and enabling environment for MSME development. Implementation is based on regional member countries' priorities and interest for participating. The Trust Fund complements other existing financing instruments such as the Affirmative Finance Action for Women in Africa (AFAWA), the Private Sector Facility (PSF) and the African Trade Fund (AfTRA) among others. It also complements the Joint Labour Migration Programme (JLMP) through improved conditions for job creation, thus helping to reduce work related migration on the continent. Initially, i.e. 2019, the activities financed by the Trust Fund will carried out in Ethiopia, Ghana, Mali, Nigeria, Rwanda, Tanzania and Togo. Extended geographical scope is approved annually by the Bank and supporting donors.
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