Private Sector Federation (PSF) yesterday received Frw108.6m grant from World Bank’s Competitiveness and Enterprise Development Project (CEDP).

The $200,000 will cover operation costs of the Business Plan Competition (BPC), a project under PSF—promoting entrepreneurship in Rwanda.

Through BPC, young Rwandan graduates are encouraged to start business with the aim of grooming them into professional entrepreneurs. Antoine Munyakazi, the entrepreneurship development manager, PSF described the funding as timely. "If 800 graduate annually only 100 will be employed by either government or private companies leaving hundreds on the street (jobless) but through BPC, 78 percent of the projects submitted are from young people," he said.

CEDP is a WB project operating in eight countries with the main objective of establishing an enabling environment for growth and development of private sector that would help reduce poverty in the country.

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