Washington– Morocco is making moves on its development goals. First up: youth unemployment. With an almost 4 million Euro finance from the World Bank, Morocco is launching an entrepreneurship program to assist thousands of Moroccans under the age of 30 to start their own small businesses.
The program, which was announced on International Youth Day on August 21, is a 4-year ordeal in which civil society organizations in Morocco and the World Bank funding will partner to provide micro-loans for people under the age of 30 who have not completed their baccalaureate to start their own small businesses.
The objective behind the project is for youth to take their situations into their own hands and innovate, design, and develop their businesses as they see fit under the guidance and support of the Moroccan youth entrepreneurship program—which will provide training and advice on how to launch and sustain a small business.
In a recent World Bank study, it was revealed that nearly 51% of Moroccan youth (aged 15-29) are either out of work or no longer in school, with equally high dropout rates. In addition, nearly 87% of youth are working “under the table”—informally, with no contract or taxed salary. The World Bank also found that, “with the limited prospects of a formal job, a growing number of young people, especially the less educated ones, are attracted to the prospects of self-employment. It is seen as a way out of inactivity, low pay, long working hours, and the hazardous work conditions often associated with the informal sector.”
Thus, the Moroccan youth entrepreneurship initiative is tackling a highly contentious issue. The question is how can the Moroccan government and international community help the young people of Morocco become the future leaders of Morocco?
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