Eritrea - Enable Youth Eritrea (AFDB-P-ER-AAZ-003)

Countries
  • Eritrea
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 2, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Eritrea
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 18.14 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Sep 11, 2020


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank documents, the ENABLE Youth Eritrea is a skills and capacity development project for youth, whose Bank financing comes from the TSF Pillar I window. It is one of AfDB's ENABLE Youth Initiatives under the Bank's Feed Africa Strategy for Agricultural Transformation in Africa. The Bank's ENABLE Youth initiative is a comprehensive program that builds entrepreneurship in agribusiness via skill acquisition and creates an enabling environment in which young men and women become owners of profitable agribusinesses. The program seeks to encourage the creation and growth of growth of sustainable commercially viable youth agribusinesses by supporting the development of wellstructured agribusiness projects, and providing commercial loans and other financial products/services available for investment in a range of agribusiness ventures, market access, capacity development, risk management, and networking. Eritrea was among the countries in the continent that expressed keen interest in participating in the Bank's ENABLE Youth Program and requested the Bank's support for financing. The project will contribute to the objectives of the country's Integrated Five-year Agricultural Strategic Plan (2019-2023) by identifying innovative and enterprising youth agripreneurs who are willing to pursue business opportunities in agribusiness along key agricultural value chains in the country. It will engage all stakeholders along the agricultural value chain, thus strengthening the entrepreneurship ecosystem and growth of agribusiness ventures. Moreover, the project promotes Public-Private Partnership (PPP) through active collaboration with private enterprises including their participation in the training and apprenticeship of beneficiary students. The total cost is estimated at UA 14.38 million, of which AfDB is financing UA 13.12 million (91.2 %). The project implementation is expected to start in 2020 with a duration of five years.

The overall goal of the Bank's ENABLE Youth Program is to contribute to job creation, food and nutrition security, income generation and improved low carbon climate resilient livelihoods for youths in both urban and rural areas. The specific objective of the ENABLE Youth Eritrea project is to create business opportunities and decent employment for young women and men along priority agricultural value chains through the provision of entrepreneurship skills, funding and business linkages.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

EGEH Mohamud Hussein
m.egeh@afdb.org 

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/ 

How it works

How it works