Oromia Regional State has budgeted 6.6 Billion Br this fiscal year which will go towards job creation for unemployed youth. It includes the 3.5 billion Br of that budget will come from the 10 billion Br revolving youth fund that was announced by the President in October 2016. Oromia Credit and Savings S.C will provide 1.5 billion Br which will be available in the form of loans for entrepreneurs. One billion Br will be provided by the regional state government. The remaining 600 million Br will be provided by regional developmental agencies and their partners.
The 10 billion Br youth fund was announced by the President as a measure to combat the high rates of urban and rural youth unemployment. Nearly a quarter of the youth population was unemployed in 2016. A draft document for the administration of the fund was completed three weeks ago with plans to table it for discussion before the Council of Ministers. The Commercial Bank of Ethiopia will administer the fund.
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