US$1bn fund launched to support youth-led green businesses

A new international fund has been launched with a target of mobilising more than US$1 billion by 2030 to help young entrepreneurs establish and expand businesses in the green economy.

Minister of State in the Office of the Prime Minister of Barbados with responsibility for Youth and Culture Senator Shane Archer announced the Green Rising Fund on behalf of Prime Minister Mia Mottley during the A Billion Reasons to Rise event at the Commonwealth Youth Forum in Antigua and Barbuda on Tuesday.

The initiative, developed through United Nations Children’s Fund (UNICEF’s) Generation Unlimited programme, is intended to address the shortage of financing available to young people pursuing climate-related business ventures.