IFC launches 1001 Stars to empower economically disadvantaged groups

AMMAN — Creating a sky of opportunity for priority groups, the International Finance Corporation (IFC), on Thursday launched the 1001 Stars initiative, dedicated to creating a more inclusive and prosperous region.

The initiative, partnering with private sector leaders represented by 15 companies from Jordan, Iraq, Yemen, Gaza and the West Bank, Pakistan and Afghanistan, is directed to create numerous job creations and vocational training over the next three years.

for economically disadvantaged groups comprising of women, and youth who are uneducated, unemployed or untrained, as well as displaced people and individuals with disabilities

In the Kingdom, Orbit Aluminium Industries is to train and employ 150 persons in its first phase, followed by a second phase of training and employing 100 people.

The Jordan Kuwait Bank, in cooperation with its strategic partner the non-profit organisation Injaz, will be targeting 600 female students from universities and schools in Jordan and Palestine, conducting career-oriented capacity-building programmes, in addition to providing them with the necessary tools and measures to assist them in starting their startups.

IFC’s Regional Vice President, Hela Cheikhrouhou in her address highlighted IFC’s specific focus on the quality of employment and training provided to the beneficiaries, the entrepreneurial innovation part of the initiative and special attention to the creation of tangible outcomes and dynamic opportunities.

“There are many groups that have greater difficulty in entering the job market, and the role of organisations like the World Bank Group is to help create the sky of opportunities for the most vulnerable groups in our societies,” Cheikhrouhou added.

Cheikhrouhou also noted that the average female unemployment rate in the Arab World is around 22 per cent, compared with a 6 per cent global average.

She also said that this initiative was established to support disadvantaged groups in meaningful work starting from the seven aforementioned countries, thereby creating 60,000 job opportunities, training, and financial inclusion.

The launch event also saw a discussion session that answered various questions related to creating access to jobs, the barriers and interventions.