U.S announces $1.6M to promote youth workforce development in Somalia.

The United States Agency for International Development (USAID) announced on Monday $1.6 million for Somali youths in businesses in an effort to promote youth workforce development.

The event was opened by Somalia’s prime minister Hassan Ali Kheyre and graced by The US ambassador to Somalia Donald Yamamoto.

The Prime Minister opened a project to fund 340 young Somalis who have displayed successful business innovations in the horn of Africa nation.

In the event the prime minister said, “Somali youth often face a range of challenges to their economic success,” said PM Khaire. “But Somali youth are also some of the most motivated, resourceful, business savvy, and resilient contributors to our economy. The initiative launched today will help begin a sustainable path for access to finance for our youth, who are the key to our country’s growth and stability.”

The Somali government is implementing the program, funded by the United States Agency for International Development (USAID) with US $ 1.6M, with participation from some of the country’s business entities.

US Ambassador Donald Y Yamamoto while addressing the Somali Youth Investment Expo said, “Somali youth are Somalia’s future and they should be empowered to invest in their own futures and in their nation,” said Ambassador Yamamoto. “Working hand-in-hand along with the Government of Somalia and the private sector, we are investing in our shared commitment to improve Somalia’s economy.”

“It is inspiring to witness the enthusiasm and work ethic of Somalia’s young people – our workforce of tomorrow,” said Mr. Mahat Mohamed Ahmed, CEO of IBS Bank. “At IBS Bank, our mission is to positively transform peoples’ lives by providing quality, accessible and affordable financial services. Partnering with the USAID GEEL program allows us to have an even greater positive impact on the Somali economy by creating jobs,

In this initiative, USAID also aims to increase access to quality education, contributes to the country’s economic development, the growth of the family livelihoods,

The new effort is also expected to create over 1,000 new job opportunities for Somali youth by developing the skills they need in today’s global economy.

The Somali government is prioritizing empowering youth and creating job opportunities to meet their needs, and play a major role in the overall development of the country and the Somali people.

Mustaqbal