World Bank approves $60 million to fight youth unemployment in Benin today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.
15 december 2020 - 19:59:48 MSA/WA Panafrican News Agency
WB gives 60million US dollars to fight youth joblessness in Benin
Cotonou, Benin (PANA) - The World Bank International Development Association (IDA) will give Benin 60 million US dollars to help the country fight against the joblessness of youths in poor regions, a statement issued by the bank said here Tuesday
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The New Poor
Over the past 12 months, the pandemic has harmed the poor and vulnerable the most, and it is threatening to push millions more into poverty. This year, after decades of steady progress in reducing the number of people living on less than $1.90/day, COVID-19 will usher in the first reversal in the fight against extreme poverty in a generation. In a worst-case scenario, the figure could be as high as 115 million. The World Bank Group forecasts that the largest share of the “new poor” will be in South Asia, with Sub-Saharan Africa close behind. According to the latest Poverty and Shared Prosperity report, “many of the new poor are likely to be engaged in informal services, construction, and manufacturing – the sectors in which economic activity is most affected by lockdowns and other mobility restrictions.”