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Working Paper 221 - Employment Effects of Multilateral Development Bank Projects The Case of the African Development Bank
Africa has made strong economic gains over the past decade, with real GDP growth averaging above 5 %. However, this growth has not been very transformative, particularly in creating large scale formal jobs (Page and Shimeles, 2014). Weak job creation has in turn slowed down the pace of poverty reduction and could threaten political and social stability as demonstrated by events in North Africa. High unemployment and poverty are therefore two most pressing challenges currently facing the African continent.