to Finance business line, over a six-year period between 2006 and 2011,approximately $343 million was spent on about 444 projects in SME banking,microfinance, and financial infrastructure (such as credit bureaus). Inaddition, the business line supports women entrepreneurs through the GenderEntrepreneurship Market (GEM) Women Business initiative, which works withgroups of businesswomen both to build their capacity for presenting businessplans to client banks and to assess their banking needs.IEG also recognizes that improving access to infrastructure has economywidepositive effects on job creation, but the predominant effects tend to beindirect. The impacts from infrastructure investments will be analyzed in aforthcoming IEG evaluation.Investment Projects and Job CreationIFC clients provided 2.4 million direct jobs in 2010. Since FY05, IFC has beencollecting employment data on its investment clients. Based on the internalDevelopment Outcome Tracking System (DOTS), IFC clients in 2010 provided2.4 million direct jobs, and the net job creation between 2009 and 2010 wasapproximately 70,000 jobs. It is difficult to assess the adequacy of these jobcreation figures, as there are no set benchmarks. Further, these figures donot include jobs created indirectly through IFC interventions. Currently, IFCis working on a study aimed at understanding the job creation impacts of IFCinvestments and advisory projects and private sector activities more broadly.IFC’s direct job creation was highest in the Latin America Region, whereas thedirect jobs created in MENA countries was limited. However, IEG caveats thatthe number of clients that provide jobs data in MENA countries are limited, sothe job creation is not presented at the country level, and the data presenteddoes not include jobs created indirectly. Table E.1 indicates that Brazil, China,India, and Argentina, respectively, were the countries with the highest directjob creation supported by IFC. Although IFC has identified the issue of highunemployment rates (and high youth unemployment rates) in the MENAregion in its strategies, direct employment by IFC clients in these countrieshas been limited. Indeed, direct jobs losses were higher than direct jobscreated in MENA regions.<strong>Youth</strong> are more likely to be employed in sectors such as agriculture, services,tourism, and information technology (OECD 2009; OECD 1998). Consistentwith this evidence, the jobs created by IFC clients have been primarily inthe agribusiness and forestry sector and the consumer and social servicessectors (table E.2). This suggests that IFC investments, even in the absenceof explicitly targeting youth, have likely helped improve opportunities foryouth.Advisory Services and Job CreationBetween FY06 and FY11, of the 1,555 portfolio or completed advisory servicesprojects, 159 projects had objectives and/or results indicators linked to job124 <strong>Youth</strong> <strong>Employment</strong> <strong>Programs</strong>
Table E.1Net Job Creation by IFC—the Top 4 Countries, MENA andSouth AfricaNumber of IFC clients thathave tracked direct jobcreationIFC direct net job<strong>Youth</strong> unemploymentCountrycreation 2006–2010(%) (2009,ILO)Brazil 70,272 41 17.8 8.3Overallunemployment (%)Argentina 31,273 16 21.2 8.6China 47,802 61 4.3India 45,427 81 10.5 4.4MENA Region -6,528 73South Africa -509 9 48.2 23.8Source: IFC <strong>Employment</strong> Reach Data and ILO and WDR unemployment data.Note: IFC= International Finance Corporation; ILO- International Labour Organization; MENA= Middle East and North AfricaRegion.Direct Job creation data is based on the calendar year. The figures do not include indirect or induced jobs created by the clients.The data includes employment data of clients that had project approvals between FY01–FY11. Funds and the FinancialMarket Sector are excluded.Table E.2creation. Of the 110 projects with the objective of job creation, less thana third (32) had both a job creation objective and tracked correspondingemployment indicators (figure E.2). However, the employment data havenot been categorized by age group, and only a few advisory service projectshave explicitly included youth as a beneficiary group. Projects with jobcreation objectives are mainly in the Sustainable Business Advisory (SBA)and Investment Climate business lines. In SBA, the projects were primarilyfocused on capacity building to improve the growth and competitiveness ofsmall and medium enterprises, including linkages, value chains, and localNet Direct Job Creation by Sector in IFCNet job creation 2006 2007 2008 2009 2010 TotalAgribusiness and forestry 8,901 33,514 15,508 11,239 20,246 89,408Consumer and social services 6,076 5,368 15,318 8,709 26,776 62,247Infrastructure 0 -60 -227 3,344 -943 2,114Manufacturing 15,361 -6,139 19,766 9,993 16,205 55,186Oil, gas, and mining 2,142 4,614 12,879 6,298 5,895 31,828Telecom and information technology 7,389 18,508 -2,950 3,943 994 27,884Total 39,869 55,805 60,294 43,526 69,173 26,8667Source: IFC <strong>Employment</strong> Reach DataNote: Funds and Financial Market Sector are excluded.Job creation data are based on the calendar year and include employment data of clients that had project approvals betweenFY01–FY11.Appendix E: The IFC Portfolio for <strong>Youth</strong> <strong>Employment</strong> 125
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Youth EmploymentProgramsAn Evaluati
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Youth Employment ChallengesIn gener
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Management Action RecordIEG Finding
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IEG Findings and ConclusionsIEG Rec
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IEG Findings and ConclusionsIEG Rec
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Report to the Board from the Commit
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could have focused more on the lack
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• Chapter Highlights• High yout
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ConsequencesEarly unemployment is s
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ReferencesBegg, David, Stanley Fisc
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Chapter 2What Are the World Bank an
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The strength and openness of the ec
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Interventions to Address Youth Empl
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commitments by the International Ba
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Figure 2.2Top 12 Youth Employment I
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• the substitution effect of bett
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Chapter 3What Is the Evidence that
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school dropouts early. Learning opp
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evaluations on what works best to p
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Agriculture, Health, Education, Soc
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Holzmann, Robert. 2007. MILES: Iden
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• Chapter Highlights• The Bank
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Argentina, Bulgaria, Colombia, and
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facilitated 69 foreign work contrac
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awarded vouchers to about 1,000 out
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Hjort, Jonas, Michael Kremer, Isaac
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Chapter 5Recommendations
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farm self-employment and employment
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This appendix presents the factors
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Organization for Standardization (I
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Box A.3Youth as a Demographic Divid
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Table A.1Types of Youth Employment
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Notes1. This phenomenon could be le
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Appendix BEvaluation Data Sources a
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Identification and Analysis of the
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• Making the labor market work be
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The World Bank GroupWorking for a W