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World Bank project - Essay Example

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Enormous resources have been set aside by the World Bank to aid in reinforcing developmental efforts by developing nations of the world. In 2014, the World Bank approved a grant…
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Download file to see previous pages Some of the main economic sectors that the Senegalese government feels that continued skill development should be enhanced include the tourism sector, horticulture and poultry farming sectors. The initiative by the World Bank to fund the training programme for the young people in Senegal has led to massive improvements in the job market. In addition, the cases of joblessness among the young people in Senegal has significantly reduced.
The project was awarded a $35 million loan for full implementation. The project is very beneficial to the economic development of Senegal. The project will improve the level of skills among the young people. In essence, the project will aid in the diversification of the economic activities in Senegal. Over 60% of the total Senegalese population is employed in the agriculture. However, the contribution of agriculture to the country’s economic growth is less than twenty percent. In this regard, offering sufficient relevant training to the young people in the fields of agriculture and tourism can aid in boosting the economic growth of the country. The project aims at increasing the country’s agricultural production and to boost returns from tourism activities. In essence, the project will boost the contribution of common economic activities to the country’s economic growth and development.
Most young people are idle because of lack of skills in the various industries. Young people are very productive since they are energetic and can easily adapt to changes. Actually, the young people have a better understanding capacity compared to the old people. In this case, offering training to the young people is very economic since they understand concepts at a higher rate than the old people. For this reason, the project will aid in boosting the level knowledge among the young people and reduce idleness in the streets.
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