By Millicent Awour
Canada has Thursday announced funding that will help Kenya’s poorest and most vulnerable people benefit from the country’s growing resource-based economy.
Canada will contribute 19.5 million dollars to the project over seven years, until 2021.
Canadian Minister of International Trade, Chrystia Freeland and Minister of International Development t Marie-Claude Bibeau, made the announcement on the margins of the World Trade Organization’s 10th Ministerial Conference in Nairobi.
“Canada recognizes that small-business owners in developing countries are key drivers of economic growth and poverty reduction. By equipping Kenyan entrepreneurs, especially women and youth, with tools to start and grow their businesses, we are supporting their ability to benefit from economic growth and bring about positive change in their homes and communities.”
– Chrystia Freeland, Minister of International Trade
“Canada is proud of its commitment to helping the world’s poorest and most vulnerable people, including women and youth. Our partnership with the Mennonite Economic Development Associates will assist communities in the most marginalized areas of Kenya to overcome poverty and build successful businesses that contribute to further growth and prosperity.”
– Marie-Claude Bibeau, Minister of International Development and La Francophonie
The Government of Canada is contributing the funding through the Private Sector Development project.
The project focuses on reducing poverty in Kenya’s most marginalized regions by providing training, expertise and mentoring to small-business owners, especially women and youth.
It is anticipated that the project will train 20,000 entrepreneurs in managing successful businesses and increase the profits of 250 small and medium-sized enterprises.