More than half of the Central and South Asia’s population is below the age of 25. Youth unemployment is high; and women work in low-income sectors and participate very little in business as entrepreneurs and senior managers.
Across the region, job creation is a priority for governments to foster socio-economic stability and Small and Medium Enterprises (SMEs) are seen as vital players in driving regional growth. However, barriers to launching and growing an enterprise persist in the Central and South Asia region.
Entrepreneurs face tough regulations, insecurity, under-resourced government programmes, and expensive financing. This hampers regional trade and progress in tackling the low participation of women in business and youth unemployment.
Both the EU and AKDN are actively encouraging regional cooperation in Central and South Asia and continue, through this partnership, to work across the region to enhance opportunities for economic growth and sustainable livelihoods.
SMEs are essential in fostering sustainable economic growth by promoting innovation, reducing income inequality and providing stable employment. The unique intervention through Accelerate Prosperity (AP) in Central and South Asia aims to harness the power of SMEs to tackle the low participation of women in business, limited trade and burgeoning youth unemployment.
AP Asia will invest millions of Euros in selected businesses and differentiates itself by providing in-house capital to do so. Through this, the programme will empower high potential entrepreneurs and equip them with the appropriate tools to grow their businesses, access investment and help multiply economic opportunities in Pakistan and the region.
Working alongside the targeted SMEs, investors and other stakeholders will help build more inclusive environments. As supported enterprises grow, they will generate markets and services and open new avenues for regional trade.
These interventions will put women and youth entrepreneurs in the frontline of economic transformation.
So far AP has helped:
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