MINISTER of Economic Planning and Development Dr Tambo Gina has lauded the support from the World Bank, saying it is a catalyst for transformative change, particularly for the youth.
He said the support from the World Bank was unlocking opportunities in skills development, entrepreneurship, and employment.
The minister’s remarks came after the World Bank Board of Executive Directors approved the Eswatini Youth Employment Opportunities Project (EYEOP) aimed at increasing income earning opportunities for targeted youth in the kingdom.
EYEOP is the first project in Eswatini to be financed by the International Development Association (IDA) following the country’s transition to an International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). (IDA/IBRD) blended status.
The minister said through such initiatives, they were empowering the next generation of Emaswati to drive innovation, economic growth and sustainable progress for years to come.
According to a statement issued by the World Bank, young people in Eswatini make 30 per cent of the population, and nearly half of the labour force, yet formal employment opportunities remain scarce, with only 1 000 new jobs created annually compared to 25 000 new entrants.
Young women face even greater challenges, with an unemployment rate of 52.4 per cent compared to 45 per cent for men.
Through skills training in high-growth sectors (such as agricultural value chains and related services), and the establishment of a dynamic and digital social registry, EYEOP aims to promote youth economic empowerment.
The World Bank said with nearly half of Eswatini’s youth unemployed and over 53 per cent not engaged in education, employment, or training (NEET), the project responded to an urgent need for the youth to access productive employment and economic inclusion.
It was stated that the project would empower approximately 30 000 young people, with at least 50 per cent female beneficiaries.
It will also include young people with disabilities, and assist government to empower young people with market-relevant skills, facilitate job placements and provide entrepreneurial support by including building on existing programme and leveraging strategic partnerships. The project aligns with Eswatini’s National Development Plan and the World Bank’s Country Partnership Framework.
Over five years, the project aims to increase incomes, improve access to employment and enhance government’s ability to deliver targeted support to those most in need, added the bank.
World Bank Division Director for Eswatini Satu Kahkone, said the project represented an important step towards economic inclusion, as youth unemployment in Eswatini was at 49 per cent and many young people limited to informal and low-quality jobs.
She said by investing in entrepreneurship, market-driven skills and more effective social protection, the project would help reduce poverty and vulnerability, while advancing Eswatini’s broader development goals.
“The World Bank is proud to stand with Eswatini’s youth as they build a more secure and prosperous future,” she said.
EYEOP has two key components aimed at addressing challenges faced by young people:
Component 1: Youth Income-Earning Opportunities. – This component aims to expand income-generating opportunities for targeted youth by promoting self-employment in on-farm agricultural production as well as in agriculture-related value chains and other services.
Component 2: Strengthening Social Protection Targeting and Delivery Systems. – This component supports the development of a dynamic and digital social registry to enhance the identification and targeting of vulnerable youth, serving as a key tool for this project and broader social protection programs.
