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EBRD invested €1.76 billion in 46 projects for young people

Staff writer ▼ | February 27, 2016
Accounting for 9 out of 10 jobs, the private sector is the backbone of a flourishing economy, driving growth and prosperity.
EBRD young
Opportunities for young people   EBRD and European Training Foundation
But where there is a mismatch between skills and needs of employers, the EBRD can help to narrow the gap with targeted programmes.

It focuses on support for young people, especially young women, whose integration into the workforce is not only good for the economy but also essential for social cohesion and sustainable transition.

At the same time, the EBRD helps its clients to address key business challenges such as a lack of access to suitably qualified entry-level staff, high training costs and low staff retention.

The EBRD has invested just under €1.76 billion in 46 projects supporting inclusion outcomes over the past two years, in sectors ranging from manufacturing and retail to tourism, agribusiness, financial institutions and power and energy.

90 more projects are already under development for 2016 and beyond. These will create access to skills and jobs for young people, women and populations in less advanced regions.

Overcoming skill mismatches is essential to tackling unemployment, especially among young people. While unemployment is a problem for many economies, it is especially pressing in Turkey, the southern and eastern Mediterranean (SEMED) region and the Western Balkans – three core regions of EBRD investment.