| 02 Jun 2008 |
|
World Bank Global Partnership for Youth Investment and Silatech Accelerate Strategic Collaboration to Support Youth Employment, Enterprise Development and Investment across the Arab World at Doha Summit.
- Text size
Doha, Qatar: Dr. Pawan Patil the Chief Executive of the World Bank Global Partnership for Youth Investment and Senior Economist announced today that the Global Partnership would support Silatech, an initiative of Her Highness Sheikha Mozah Al Missned of Qatar that focuses on youth employment and entreprise development across the Arab World through two of Silatech's strategic pillars - Thought Leadership and Investment. The Global Public-Private Partnership for Youth Investment, co-founded by the
World Bank Group and the ImagineNations Group, seeks to test new approaches, catalyze, incubate, and support the development and implementation of cutting edge and innovative interventions to expand the set of economic opportunities available to young people.
"We will offer financial products and business development service support to encourage financial intermediaries to invest in what we believe is a high-growth niche youth micro enterprise market across the region," said Patil at the Doha Summit co-hosted by Silatech and the Financial Times.
Emerging evidence from the Global Partnership's action oriented research agenda in youth microfinance confirms that financial intermediaries are discriminating against youth led micro, small and medium sized enterprises purely based on the young age of the owner-operator. "Better understanding this bias through solid research such as randomized experiments and correcting for it could support financial access to what is estimated as 300 million eligible, but largely excluded young entrepreneurs across the planet" said Patil.
Rick Little, Chief Executive Officer and Member of the Board Executive Committee of Silatech, said, "as a founding partner of Silatech, the World Bank's Global Partnership for Youth Investment will play a catalytic role with Silatech in broadening and deepening country driven engagement in support of youth employment, enterprise development and investment based on global best practices."
Alan H. Fleischmann, Managing Director of ImagineNations Group, said, "Bringing together the World Bank Global Partnership with Silatech allows for a robust opportunity to leverage and scale-up effective on-the-ground initiatives and would reach more enterprises and entrepreneurs if only these young people had the access to capital and business coaching to help drive their growth and increase their impact in the marketplace."
The Global Partnership will also assist Silatech to reach across the World Bank Group (the Bank, IFC, MIGA) to support youth investment across the Arab World and participate in country-level missions and strategy development that could lead to co-financed and scaled projects and knowledge products based on global best practices.
-Ends-
The Global Public-Private Partnership for Youth Investment, founded by the World Bank Group and ImagineNations Group seeks to support the development and implementation of innovative interventions to expand the set of economic opportunities available to young people (with a special emphasis on disadvantaged youth -- adolescent girls, young women, and the poor) in developing countries while actively measuring, evaluating, disseminating and learning from results and in partnership with others.
© Press Release 2008
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer







Post a Comment
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.