Angola - Youth Employment Project (Projecto Crescer) — Angola

Overview

The Angola Youth Employment Project (Projecto Crescer) is a youth employment and entrepreneurship project designed to promote employability, support youth-led enterprise creation, and contribute to economic diversification in Angola. The project focuses on sectors with high job-creation potential, particularly agriculture, transport, and renewable energy, by combining demand-driven skills development, business acceleration, improved access to finance, and institutional strengthening. The project will modernize eight technical and vocational education and training institutions into centres of excellence, establish digital innovation and incubation hubs, support start-ups and MSMEs through tailored business development services and innovative public-backed financing instruments, and strengthen the policy and regulatory environment for MSMEs and start-ups. The original project was financed through an African Development Bank loan of USD 79.076 million, and this addendum seeks approval of an additional European Union grant of up to EUR 15.5 million, including Bank fees, to finance part of the project costs, notably the sub-component on technical, digital and entrepreneurial skills development for agriculture and transport value chains.