London, Tuesday 25 January 2022
The World Bank Group approved $150 million in financing on Monday to boost Burundi's social protection sector through the new "Cash for Jobs" (Cash4Jobs) project, which is aimed at the country's most vulnerable inhabitants.
The project's goals are to improve the management capacity of social safety net programs so that they can provide more effective coverage while also easing access to jobs for the most vulnerable people, according to a statement from the World Bank.
The project intends to alleviate poverty by providing cash transfers and other measures to vulnerable communities in order to strengthen the country's human capital metrics.
It will also increase economic prospects by allowing people to participate in productive inclusion programs and jobs.
The World Bank's International Development Association (IDA) is providing grant funds for the Burundi Cash4Jobs project, which will be conducted over a five-year period.
Burundi's Cash4Jobs project is one of a number of initiatives aimed at boosting employment development in the country by focusing on economic empowerment for women and youth.
According to Jean-Christophe Carret, World Bank Country Director for Burundi, "it is in accordance with the government of Burundi's aim of strengthening community resilience and promoting inclusive economic growth."
Burundi's 18 provinces will be covered by the Cash4Jobs project.
The International Development Association (IDA) assists the world's poorest countries by giving grants and low- to no-interest loans for projects and programs that promote economic growth, alleviate poverty, and enhance the lives of impoverished people.
Burundi is a landlocked country in East Africa with a low-income economy that employs 80 percent of the population in agriculture.
(Written and edited by: The Decision Maker)