The Challenge Fund for Youth Employment will be launched on November 22nd. The fund focuses on creating a future perspective for 200,000 women and men in Africa and the Middle East by investing in decent work and income. The fund is financed by the Ministry of Foreign Affairs and runs until 2025. Palladium, Randstad and development organization VSO will manage the fund.
The Challenge Fund was announced in the financing note addressed to the Dutch parliament ‘International financing in perspective; seizing opportunities, achieving results‘ by Minister Kaag of Foreign Trade and Development Cooperation. The fund pays special attention to equal opportunities for young women and men in the labour market and focuses on youth in the Middle East, North Africa, Sahel & West Africa and the Horn of Africa.
Proposals for the Challenge Fund
The income of youth in these focus regions is often insufficient to support them and to enable them to build a future. The Challenge Fund aims to change this. Proposals can be submitted by the private sector, civil society organizations and knowledge institutions or by a consortium of two or more partners. The proposed initiatives should have a clear track to decent work for youth, especially young women, and are expected to involve both the youth themselves and the employers in the design of the project.
Read more about the Challenge Fund for Youth Employment.
Cooperating parties
The collaborating parties that will manage the fund will combine unique knowledge and expertise. Palladium has extensive experience in managing other challenge funds and brings a great amount of expertise in the field of private sector development, employment, inclusion and gender. Randstad is the global market leader in the field of recruitment, selection and career guidance. VSO adds its expertise in the areas of education & employment, youth involvement and inclusion & gender. Sönke Buschmann (Director of Economic Growth at Palladium): The fund is a great opportunity to support and realize ideas that bring ambitious young people together with companies that want to help build the future prospects of young people in the focus regions.