The World Bank has approved $250 million in financing for the Angola Youth Employment Opportunities Project (AYEOP). This initiative aims to enhance productivity and employment opportunities for young people in Angola. The project seeks to address barriers to wage jobs and entrepreneurship through a comprehensive approach involving coordinated interventions.
Drawing on the findings of the report "Good Jobs for Angolan Youth: Opportunities, Challenges, and Policy Directions, 2023," as well as extensive global evidence, the AYEOP employs an integrated strategy to tackle youth employment challenges on a large scale.
The project introduces a convergence approach that combines government investments with World Bank support for economic transformation, diversification, and digitalization. This is particularly focused on the Lobito economic corridor. Additionally, it adopts delivery mechanisms designed to improve the Labor Market Information System to reach more individuals and support Angola's significant youth population. An estimated 500,000 young people are expected to benefit from participation in entrepreneurship and labor market interventions.
"This project supports government efforts for economic diversification by ensuring youth acquire relevant skills, gain experience, and access opportunities from economic initiatives, helping them become productive employees, entrepreneurs, and job creators," stated Juan Carlos Alvarez, World Bank Country Manager for Angola.
The nationwide implementation will target youth aged 16 to 35 years who are unemployed or engaged in low-productivity activities. The project will assist young entrepreneurs by providing training, business development services, and financial aid to help grow businesses and create jobs. It will also prepare youth for wage employment through market-aligned training programs that include skills certification, internships, job placement services, mentoring, and digital employment support. Furthermore, it aims to strengthen government institutions' capacity to deliver effective labor market programs at scale.
This initiative aligns with Angola's strategic priorities outlined in its National Development Plan 2023–2027 and the upcoming Country Partnership Framework CPF FY26-FY32. These plans focus on economic diversification by building resilience at individual, economic, and environmental levels.
"Through interventions that improve youth employment, productivity, income, and work experience," said Emma Monsalve, World Bank Senior Social Protection Specialist and Task Team Leader. "The project will open doors to better opportunities and empower young people to become innovators and job creators over time."