WASHINGTON, December 14, 2021-The World Bank Group has approved funding of $ 150 million to continue supporting Burundi’s social protection sector through the new “Cash for Jobs” project (Cash4Jobs). The objectives of this project are to strengthen the management capacity of social safety net programs and to extend them in order to promote more effective coverage while facilitating access to employment for the most vulnerable populations.
The project aims to reduce poverty by protecting vulnerable populations through cash transfers and accompanying measures that will improve the country’s human capital indicators. It will also promote economic opportunities through access to productive inclusion initiatives and jobs.
“Burundi’s Cash4Jobs project is part of a series of projects supporting job creation in Burundi by prioritizing economic empowerment activities for women and youth. It complements the Skills4Jobs project approved last June and is in line with the vision of the government of Burundi to strengthen the resilience of communities and promote inclusive economic growth ”, noted Jean Christophe Carret, World Bank Country Director for Burundi, Democratic Republic of Congo, Angola and São Tomé and Príncipe.
The Cash4Jobs project, which will cover the 18 provinces of Burundi, extends certain components of the ongoing project to support the “Merankabandi” social safety net which has targeted 4 provinces with satisfactory results. In addition to cash transfers and activities aimed at improving human capital, the project introduces support measures for job creation, strengthens the development of social protection delivery systems and ensures the integration of refugees and communities. in national social protection systems. Grant funding for the Burundi Cash4Jobs project is provided by the International Development Association (IDA) * and will be implemented over five years.
* The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and loans at low-to-zero interest rates for projects and programs that stimulate economic growth, reduce poverty and improve the lives of the poor. IDA is one of the most important sources of assistance for the 74 poorest countries in the world, including 39 in Africa. IDA resources are bringing positive change to the 1.3 billion people who live in IDA countries. Since 1960, IDA has provided $ 458 billion to 114 countries. Annual commitments have averaged around $ 29 billion over the past three years (FY19-FY21), with around 70 percent going to Africa. Learn more online: IDA.worldbank.org. #IDAworks
World Bank Group published this content on December 14, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on December 15, 2021 05:58:05 PM UTC.