The European Union has made a significant investment in the future of Yemen, with the signing of a $10.9 million agreement with Qatar’s Silatech Foundation. This deal will expand the Support to Youth Entrepreneurship and Financial Inclusion project, which is aimed at improving the economic empowerment of young people in Yemen.
With a focus on job creation, income generation and financial inclusion, the project aims to provide employment opportunities for over 40,000 young men and women across Yemen’s governorates. To achieve this, a grant-funding scheme for youth enterprises will be established and young entrepreneurs will receive capacity-building support.
This latest collaboration builds on the success of the previous three-year partnership between the EU, Silatech and Al-Amal Bank, which helped to create more than 30,000 jobs and economic opportunities for young Yemenis. The second phase of this partnership will have a focus on green economy principles and the empowerment of women, with a particular emphasis on financial inclusion and the provision of innovative services through digital solutions.
The EU and Silatech are committed to ensuring that this project has a positive and lasting impact on the lives of young people in Yemen. The grant-funding scheme for youth enterprises will provide a much-needed boost to the country’s economy, and the capacity-building support for young entrepreneurs will help to create the next generation of business leaders.
In addition, the focus on green economy principles and the empowerment of women will help to create a more sustainable and equitable future for Yemen. By prioritizing financial inclusion and innovative services through digital solutions, the project will ensure that all young people, regardless of gender or location, have access to the tools and support they need to succeed.
With the EU and Silatech working together, the Support to Youth Entrepreneurship and Financial Inclusion project has the potential to transform the future of Yemen. By providing young people with the support and opportunities they need to succeed, this project will help to create a brighter future for all.