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Kabar (13 December 2023)

The European Bank for Reconstruction and Development (EBRD) is addressing the issue of youth entrepreneurship and employment in Central Asia by launching a seven-year €200 million (US$ 218 million) Youth in Business programme. It is designed to provide better access to finance and relevant training to young entrepreneurs in the region, where up to one third of the population is aged between 18 and 34 years.

The Youth in Business programme in Central Asia (YiB CA) will target micro, small and medium-sized enterprises (MSMEs) led or owned by young individuals under the age of 35. It will consist of up to €200 million for on-lending to up to 20 partner financial institutions in Central Asia and Mongolia; targeted non-financial services for eligible small businesses will be provided by the Bank’s Advice for Small Businessesprogramme to help develop their entrepreneurial skills through training, advisory services and networking opportunities.

The EBRD’s investment will be complemented by a package of up to €30 million consisting of grants and concessional co-financing to stimulate inclusive lending and youth entrepreneurship.

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