Analysis on African Entrepreneurship Projects of the World Bank and Its Relevance to UN SDGs
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Entrepreneurship has been widely recognized as a vital source of economic growth and development. The Sustainable Development Goals (SDGs) drafted by the United Nations also highlights the role of entrepreneurship in achieving quality education, job creation, creativity and innovation. Africa is where more people, especially women, start a new business than any other region, creating immense entrepreneurial opportunities. Yet, Africa still remains the least developed continent in the world due to numerous business constraints and lack of infrastructure. Many African countries approached international organizations such as the World Bank for financial assistance and entrepreneurship activation. In response to these request, the World Bank has a diversified portfolio in supporting entrepreneurship over the 3 decades with the largest scale and volume of projects. Thus, this study attempts to explore the trend and contents of the World Bank’s entrepreneurship-related projects in Africa. In this study, key details on 83 projects’ target country, duration, intervention, beneficiaries, and financing were analyzed. Furthermore, a cluster map was conducted by co-word analysis on the project summary.
Abstract
Entrepreneurship has been widely recognized as a vital source of economic growth and development. The Sustainable Development Goals (SDGs) drafted by the United Nations also highlights the role of entrepreneurship in achieving quality education, job creation, creativity and innovation. Africa is where more people, especially women, start a new business than any other region, creating immense entrepreneurial opportunities. Yet, Africa still remains the least developed continent in the world due to numerous business constraints and lack of infrastructure. Many African countries approached international organizations such as the World Bank for financial assistance and entrepreneurship activation. In response to these request, the World Bank has a diversified portfolio in supporting entrepreneurship over the 3 decades with the largest scale and volume of projects. Thus, this study attempts to explore the trend and contents of the World Bank’s entrepreneurship-related projects in Africa. In this study, key details on 83 projects’ target country, duration, intervention, beneficiaries, and financing were analyzed. Furthermore, a cluster map was conducted by co-word analysis on the project summary.
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