The Facility ‘Investing for Employment’, an investment mechanism for job creation has launched its first call for proposals in Ghana.
It is providing competitive grants to companies and other organizations to co-finance public and private projects aimed at creating jobs in the country.
The grants range between €1 million to €10 million euros per project.
“The Facility wants to promote the labour market in Ghana by providing financial and technical support to project leaders in order to boost the economy, generate long term jobs and encourage continuous training”, a statement said.
Nature of applications
The German based organization is seeking applications for four types of projects including public infrastructure for job creation (not-for-profit), common service for job creation (not-for-profit).
The applications also include For-profit-projects that foster direct job creation, have broader benefits or impacts that are not limited to the project owners of up to 50 % of the cost and For-profit-projects that foster direct job creation by the project owners up to 25% of the cost.
Applicants are obliged to contribute own funds to complete the project finance. The level of co-financing depends on the type of project.
Potential applicants have until 30th of April 2021 to submit their concept notes.
The Facility notes in its statement that the economy of Ghana has been steadily growing in recent years and the country continues to be a major recipient of foreign direct investment.
“Ghana plans to further improve regulatory environment and the Industrialization Agenda as well as grow the manufacturing sector offer several business opportunities”, it added.
The Facility is part of the Special Initiative on Training and Job Creation of the German Federal Ministry for Economic Cooperation and Development (BMZ). Operating under the brand Invest for Jobs, the Special Initiative aims to create jobs and apprenticeships and to improve working conditions in its partner countries in Africa.
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