Casablanca, Morocco, April 25, 2013—IFC,
a member of the World Bank Group, has brought educators, policymakers,
and employers together to find ways to collaborate and build effective
partnerships to better improve the skills and employability of Arab youth.
Representatives from regional governments and international businesses
and educational institutions will attend the first E4E Initiative for Arab
Youth Solutions Marketplace in Marrakesh on April 25 to define their
roles, determine best practices, and create partnerships.
The goal is to improve post-secondary
education and vocational training in order to supply key sectors— mainly
ICT, tourism, healthcare, and construction—with the skilled labor needed
to spur economic growth across the Middle East and North Africa.
“Addressing youth unemployment isn’t
just about creating jobs,” said Guy Ellena, IFC Director of Manufacturing,
Agribusiness, and Services in Europe, the Middle East, and North Africa.
“We need to ensure that young people have the skills to succeed.”
Regional youth labor force participation
rates are among the world’s lowest at around 35 percent, compared to the
global average of 52 percent. Youth unemployment results in an annual loss
of $40 – $50 billion across the MENA region each year, equivalent to the
GDP of Tunisia or Lebanon.
The conference is part of the E4E Initiative for Arab Youth, which aims
to provide young people with skills that are relevant to the marketplace
by investing in education, engaging stakeholders, and enabling solutions.
It builds on the Making Global Connections theme initially developed for
IFC’s global private education conference held in Dubai in March 2012.
IFC, a member of the World Bank Group
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.
About the E4E Initiative:
The E4E Initiative for Arab Youth, launched
in 2011, aims to provide youth with skills that are relevant to the marketplace
by investing in education, engaging stakeholders, and enabling solutions
so that Arab Youth earn a better future. Through focused IFC Investments
and Advisory efforts, the strategy of the E4E Initiative focuses on catalyzing
private sector investments in employment driven education; enabling a healthier
ecosystem for quality post-secondary education and training; and changing
mindsets on the role of the private sector in education and improving the
perception of vocational and workforce readiness training as a viable choice
for enhancing employment and entrepreneurship prospects in the region.
For more information, visit www.E4Earabyouth.com