World Bank helps to address social issues

Youth & Careers

THE Urban Youth Employment Project (UYEP) in Port Moresby is a pilot project that was funded by the World Bank in 2011 through the International Development Association (IDA) to address social issues.
According to UYEP project manager Tom Gilis, the funding to the project was made under a credit loan agreement by the Papua New Guinea government.
IDA is a part of the World Bank that helps the world’s poorest countries.
IDA also aims to reduce poverty by providing loans (called “credits”) and grants for programmes that boost economic growth, reduce inequality and improve people’s living conditions.
Gilis said the World Bank assistance to UYEP was an IDA credit loan agreement and not a grant.
He said that did not mean that Papua New Guinea was a poor country.
“The initial funding was an International Development Association credit loan and not a grant. According to World Bank rating, Papua New Guinea is not one of the poor countries in the world that it is assisting,” Gilis said.
“World bank assists developing countries which doesn’t mean those countries are poor. India is one of the countries where they invest as well.”
He believed that the project would be implemented nationwide due to the project’s success.
Communications officer with the World Bank office in PNG Ruth Moiam said that World Bank recognised PNG as a middle-income country.
She said PNG and other countries that were eligible to receive the IDA aid were referred to as “blend” countries.
“Papua New Guinea, like Vietnam and Pakistan, is IDA-eligible based on per capita income levels and also credit-worthy for some International Bank for Reconstruction and Development (IBRD) borrowing.
“The World Bank provides support under IBRD and IDA only on the request of the government,” Moiam said.
Urban Youth Employment Project is an initiative of the National Capital District Commission.
It is supported by the World Bank and other development partners.