Launch of Third Phase of PADEJ-MR Incubator Program in Burkina Faso

Strategic Insights -

The African Development Bank and the Government of Burkina Faso have officially launched the third phase of the Support Project for Youth Employment and Skills Development in Rural Areas (PADEJ-MR). The program aims to promote the economic empowerment and resilience of young people in rural areas through entrepreneurship. The project, valued at $13.62 million, is mainly financed by a $12.25 million grant from the African Development Bank.

Key Takeaways:

  • The PADEJ-MR aims to support 65 young people from four regions in Burkina Faso to prepare business plans eligible for financing, with a focus on sectors such as agriculture, agri-food, services, crafts, and new technologies.
  • The program provides practical training in financial education and safeguards, personalized coaching, and local technical support to help young people convert their ideas into viable businesses.
  • The launch of the third phase of the incubator program is a concrete response to the problem of youth unemployment in rural areas, as emphasized by Ms. Mouna Diawara, Head of Operations.
  • The African Development Bank is committed to continuing to support Burkina Faso in its economic transformation efforts, with a specific focus on opportunities for young people and women, as stated by Ms. Franceline Kaboré.
  • A cohort of young entrepreneurs has already received training and will be able to launch transformative enterprises through the incubator program.
  • The program is a national priority, as enshrined in the strategic vision of the government of Burkina Faso, emphasizing the importance of youth entrepreneurship.

Statistics:

  • The total cost of the PADEJ-MR project is $13.62 million.
  • The project is mainly financed by a $12.25 million grant from the African Development Bank.
  • 65 young people from the four regions covered by the PADEJ-MR will receive support to help them prepare business plans.

Sources:

  • The African Development Bank
  • The Government of Burkina Faso
  • AllAfrica Global Media (allAfrica.com)