147,000 Ethiopian Youth Benefited from Revolving Fund – Government
August 31, 2017 - As part of effort to address rampant unemployment among Ethiopian Youth, the Ethiopian government announced that it had managed to benefit 147,000 youths from urban employment opportunities through the Youth Revolving Fund. Following the last year’s unrest throughout the country, Ethiopia’s president, Mulatu Teshome (PhD), appeared before Ethiopian Parliament to announce the plan.
According Ethiopian News Agency report, Lack of production centers and good governance have hampered other youth from engaging in employment by making use of the fund. Ethiopian Youth and Sports State Minister Habiba Siraj told ENA that close to 2.2 billion birr was released the just concluding Ethiopian budget year from the Youth Revolving Fund and created employment to 147,294 youth in urban areas.
Among the beneficiaries of the fund are the disabled, female, and the poor. Activities are underway to provide technological support that enables the Ethiopian youth to become competitive by producing market-oriented products, she revealed.
Technology development centers are being built to implement this specific technology supported production activity by utilizing science and technology, the Ethiopian State Minister elaborated.
Habiba stated that Ethiopian Ministry of Youth and Sports is striving to integrate financial institutions and other bodies to ensure that the revolving fund is used for the intended purpose, which remedying unemployment among Ethiopian youths .The State Minister disclosed that though many Ethiopian youths have benefitted from the Youth Revolving Fund some are prevented from making good use of the opportunity due to lack of production centers and good governance.
Source:- Ethiopian News Agency