President Lazarus Chakwera has appealed to international institutions to support Malawi as one way of making capital affordable and accessible to the youth and local institutions.
Chakwera made these remarks during a meeting organized by UN global accelerator on jobs and social protection forum on the sidelines of UN Annual General Assembly conference in New York on September 23.
He explained that there is need for countries to invest in sectors that have potential in wealth generation as well as job creation in order to empower the youth and boost the country’s economy.
He said the youth play critical roles in as far as development is concerned in every country hence the need to be empowered.
“COVID-19 pandemic, food insecurity, high costs of borrowing, rising costs of living as well as effects of climate change are some of the challenges Malawi is currently facing,” said Chakwera.
He further said Malawi is facing a lot of challenges to overcome deficits as a result of climate change and high unemployment rate for the youth saying these are contributing highly to poverty levels in the country.
The Malawi leader called on world leaders and international institutions to strengthen their collaboration and come up with solutions to deal with global challenges saying the pandemic has contributed a lot to increasing the financing gaps for the countries.
In his remarks, African Development Bank President Dr. Akinwumu Adesina says there is need to empower the youthful generation through job creation, capacity building and affordable capital in order for African countries to achieve the goal of ending poverty and improve the wellbeing of people.
He urged the world leaders and the delegates participating at the conference to imitate the African Development bank’s model of Youth Entrepreneurship in their respective countries as one way of empowering the youth.
UN global accelerator on jobs and social protection was launched for transition with the ambition of bringing together member states, international institutions, Civil society, social partners and Private sector to assist countries create decent jobs globally.
Reported by Lisa Kadango Malango in New York