Addis Ababa October 10, 2016 President Mulatu Teshome said the government will establish a 10-billion birr Mobile Youth Fund that benefits the youth and the economic development of the country.
In his speech to the opening of the Joint Session of the House of People’s Representatives and the House of Federation today, President Mulatu said the initiative is a response to the economic questions raised by the youth; and it also addresses other areas of concern.
According to the president, the success of this work will depend on widening financial services, formulating new ideas and making youth participation in planning and implementation mandatory.
The administration of the fund will be based on a legal framework that ensures youth participation, he added.
The government will hold talks with the relevant authorities at every level and the youth to assess projects that aim to ensure benefits for the youth, provide development support, carry out assessments and take corrective measures as necessary, President Mulatu elaborated.
“The youth are not only the caretakers of the future development of the country; they are currently raising social and economic concerns and political and administrative questions.”
Taking all these into consideration, it is appropriate to look at the activities that will be given special focus this fiscal year, particularly those related to the youth of the country, he further noted.
“As the problems we faced over the last year have undoubtedly been related to issues of economic injustice, addressing these concerns by openly and democratically engaging the youth should offer the right way forward”, Mulatu emphasized.