The UN Capital Development Fund (UNCDF) and the Switzerland-based International Trade Center (ITC) recently launched the “Jobs, Skills and Finance (JSF) for Women and Youth in The Gambia Programme” with the aim of creating approximately 3,000 jobs in the country. The program, which is funded with EUR 16 million (USD 18.4 million) from the EU, also is intended to contribute to better security in The Gambia. The program is to be carried out in partnership with the country’s Ministry of Finance and Economic Affairs.
Founded in 1964, ITC is a joint agency of the World Trade Organization (WTO) and the UN Conference on Trade and Development (UNCTAD). Its goal is to support small and medium-sized enterprises (SMEs) while helping to integrate developing countries’ economies with those of high-income countries. During 2017, ITC expended USD 86 million and estimates that it enabled USD 646 million in export and investment value via its market intelligence and networking services.
UNCDF, which was founded in 1961, works to deliver poor people in the world’s 47 least developed countries “capital and technical support through Inclusive Finance programmes to ensure that more households and small businesses gain access to financial services.” During 2017, UNCDF supported 138 financial service providers that report achieving a net increase in client deposits of USD 6.5 billion. In 2017, UNCDF received USD 60.3 million in total contributions.
By Michelle Fleming, Research Assistant
Sources and Additional Resources
UNCDF press release
http://www.uncdf.org/article/3967/the-jobs-skills-and-finance-for-women-and-youth-programme-has-launched-in-the-gambia
ITC homepage
http://www.intracen.org
UNCDF homepage
http://www.uncdf.org
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