CDB approves project to improve support for youth development in the Caribbean Region
The Caribbean Development Bank (CDB) has set in motion a process to improve how it supports youth development in its Borrowing Member Countries (BMCs). The Bank has approved USD287,000 for the development of a CDB Youth Policy and Operational Strategy (YPOS)—a consultative process that will include engagement with stakeholders, especially youth, in its 19 BMCs, and an assessment of the key development challenges and opportunities in youth development.
Daniel Best, Director of Projects, CDB noted, “Approximately 60 percent of the Caribbean’s citizens are under 30 years old; 20 percent of whom are between 15 and 29 years old. Yet, youth are disproportionately represented among the poor and vulnerable, and youth unemployment rates are as high as 47 percent across the Caribbean.”
“The YPOS will equip CDB and its BMCs with enhanced knowledge to support evidence-based decision-making for youth development, and improve the Bank’s capacity to contribute to gender-responsive and socially inclusive youth development in its BMCs,” Best added.
To better support youth development, the Bank will aim to achieve key results through this project, including:
- identifying the specific needs of the vulnerable youth groups who are likely to be socially and economically excluded;
- examining the role youth play in society and the contributions they make/or can make to development with emphasis on youth leadership, social and economic transformation and innovation;
- determining a feasible set of youth-focused development interventions, which it can support.
The YPOS will be designed to align with the Sustainable Development Goals, the 2014 Small Island Developing States Accelerated Modalities of Action Pathway, the CARICOM Strategic Plan (2015-2019) and the Caribbean Youth and Development Action Plan (2012-2017). With this alignment, CDB will be better positioned to respond to development priorities as articulated within national, regional and global frameworks, with an emphasis on key cross-cutting issues: gender equality, citizen security, environmental sustainability, and regional cooperation and integration.
The project is consistent with the Bank’s strategic objective of enhancing organisational efficiency and effectiveness. It also aligns with CDB’s corporate priorities and its Education and Training Policy and Strategy, Gender Equality Policy and Operational Strategy and Technical Assistance Policy and Operational Strategy.