As Gov’t Of S/Leone, World Bank Sign Agreement… US$22M For Youth Empowerment

 

By Aruna Rashed Toma Bangura

The Minister of Finance, Mr. Jacob Jusu Saffa has disclosed that the World Bank and the Government of Sierra have signed a US$22 million project for youth capacity building in different technical skills.

Speaking at the signing ceremony which took place at the Ministry’s Conference room on Tuesday 2nd October, 2018, Mr. Saffa stated that one of the major factors responsible for youth unemployment is lack of skills. The project, he said, seeks to, among other things, empower the youth in different skills.

Out of the said sum, the Minister said, the World Bank will have to provide US$20 million and the Government of Sierra Leone the remaining US$2 million. He assured the World Bank of government’s commitment to the project which, he said, they would ensure that counterpart funding would not be a problem.

The fiduciary arrangement, he said, would conform to the existing agreement with a fiduciary management of the project, adding that the funds would be judiciously managed. The project which he said would be launched soon, would be managed by the Ministry of Higher and Tertiary Education and will also support key development policy formulations.

In his address, the World Bank Country Manager, Gil Martin said the fund is part of the Bank’s support to the Government of Sierra Leone as, according to him, it is one of the countries with the human capital project that is fully reflective of the country’s resource.

The Minister of Higher and Tertiary Education, Aiah Gbakima commended the signing of the project as according to him, it would help improve on the technical skills of youths that would make them more useful in the job market.