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World Bank Finances 1.5 Billion Future Bora Project
Economy

World Bank Finances 1.5 Billion Future Bora Project 

The world Bank, ministry of ICT, innovation, and youth ministry has disclosed Sh120 million fund directed at generating employment for the under-served and vulnerable youth.

The project is named Future Bora, meaning a better future, it is meant to assist persons with a disability, youths, and orphans to support their income and cut down unemployment. to broaden the economic opportunities for Kenyan Youth.

world bank finances Future Bora

The Ministry of ICT Chief Administrative Secretary Nadia Ahmed Abdalla mentioned that Future Bora is a product of Kenya Youth Employment Opportunities Project, which is financed Sh.15 Billion from the World Bank with the target of benefiting over 280,000 youths.

According to Global Disability Rights Now, Kenya youth unemployment has doubled in 2020 to 10.4 percent when companies let go of some of their employees because of COVID-19. The goal of the project is to empower underserved youth by developing policies that favor them while creating jobs.

 

The project is looking for three organizations that can meet the specific needs of vulnerable youths and generate income. Each organization will receive a grant funding of Ksh. 40 million.

It opened applications on Mashujaa Day and will close on December 15, 2020. For transparency, an independent firm, Intellecap Advisory Services will manage the applications submitted. You can apply if interested.

Shortlisted organizations will later get invited to present and pitch their proposed interventions to the jury panel.

He said it is for this reason that the Kenyan government and development partners have pooled their resources to start programs that create sufficient jobs.

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