Portuguese / Spanish / English

EU announces deal with Qatar foundation for empowerment of Yemen's youth

EU Commissioner for Economy Paolo Gentiloni
EU Commissioner for Economy Paolo Gentiloni holds a press conference [Dursun Aydemir - Anadolu Agency]

The European Union announced yesterday the signing of a $10.9 million (€10m) agreement with Qatar's Silatech Foundation for the expansion of the Support to Youth Entrepreneurship and Financial Inclusion project, Anadolu has reported. The project aims to improve youth economic empowerment in Yemen.

The new four-year project aims to deliver employment, income generation and financial inclusion for more than 40,000 young women and men in governorates across Yemen. It will be achieved through the establishment of a grant-funding scheme for youth enterprises, and the provision of capacity-building to young entrepreneurs.

READ: EU expects Egypt to deliver high volumes of LNG

According to the EU, the partnership builds on the successful implementation of the first three-year collaboration between the EU, Silatech and Al-Amal Bank. This contributed to generating more than 30,000 jobs and economic opportunities for young Yemeni women and men.

The second phase of the partnership will focus on green economy principles, notably equitable distribution of opportunity and outcome, financial inclusion, provision of innovative services through digital solutions, and the empowerment of women through supporting youth-led Micro, Small and Medium Enterprises.

READ: Qatar emir donates $13.7m to Turkiye, Syria earthquake victims 

EUInternational OrganisationsMiddle EastNewsQatarYemen
Show Comments
Show Comments