The Youth Employment Network (YEN) is an inter-agency partnership of the International Labour Organization (ILO), the World Bank and the United Nations set up in 2001 to provide new solutions to the youth employment challenge. The German contribution will fund a round of the Youth to Youth Fund (Y2Y Fund) in Togo for the period of 2013-2014.
The Y2Y Fund is one of YEN’s key products. It is a competitive grant and capacity building scheme that enables youth-led non-profit organizations to pilot and replicate innovative projects that create employment for young people by helping them set up micro-enterprises in niche markets. The Y2Y Fund is a laboratory of ideas that come from youth – from start to finish – and promote sustainable local economic development.
The objective is to find a way to meaningfully engage youth in finding solutions to the youth employment challenge. The Y2Y Fund has created over 1000 jobs in four post-conflict countries at a comparatively low cost. BMZ has funded part of this success, and through the partnership in Togo YEN will be able to further expand on and replicate this success.
The Fund will be launched early in 2013 and will feature 2 funding windows:
- Innovation: Proposals for creating youth owned enterprises in innovative areas and niche markets covering a range of sectors including agriculture, food processing and green technologies and water and sanitation.
- Replication: Proposals on replicating a successful entrepreneurship idea in Togo.
The funds will be used by the ILO in accordance with the Office’s results-based management system, with a special focus on the implementation of the social protection floor. The contribution will enable the Office to promote the ILO's Social Protection Floors Recommendation, 2012 (No. 202).