The OPIC Blog

OPIC recognizes International Youth Day 2013

Today is International Youth Day, a day created by the United Nations in 1999 to mark the important contribution youth make to the world. This year, International Youth Day focuses on youth migration and the rewards and risks associated with it.

According to a 2012 report by the UN Capital Development Fund, 85 percent of youth currently live in developing countries. Since many developing countries typically have high unemployment rates for young people, some youth turn to migration to pursue education and employment opportunities. While migration can open up a wealth of opportunities for young people from developing countries, it can also bring its own set of risks, including discrimination and exploitation. With more technological advances and better access to financing, youth in developing countries are continuously looking for proactive ways to better their lives as well as the economic situation of their home countries.

For example, members of the Kifaru Youth Group, a microfinance loan group based in the Nairobi suburb of Kawangware, have established savings, loans and emergency accounts with their local Equity Bank which they use to support their businesses. Increasingly, youth represent the next wave of new clients for financial services providers, with the population expected to grow by one billion over the next decade, particularly in sub-Saharan Africa.


Share and Enjoy

  • Facebook
  • Twitter
  • Google Plus
  • RSS
  • Email

Related Post

Featured Photo: Providing clean drinking water to hundreds of thousands of families in Algiers

In Algeria, where the Sahara meets the Mediterranean, sea water is abundant but drinking water is scarce. The Hamma Water...

Focus on OPIC Impact Award winner: QuantumID Technologies

  OPIC understands that American small businesses can play a critical role in the global economy, and the Agency actively...

Advancing global development through impact investing: OPIC featured in OnFrontiers

What constitutes an impact investment? OPIC’s Dia Martin offers a simple explanation. It covers, she says, the things “you need...