Economic Diversification

Economic diversification is one component of economic resilience and is also a key component of sustainable development as it will assist countries in reducing poverty and generate employment in the long run. In order to eradicate extreme poverty, there needs to be an economic transformation towards sustainable development. This transformation needs to be supported institutions, incentives and investments and is an essential factor in adapting to changing conditions. Such includes energy sector, improved value chain and building resilience through capacity building for women and youth in regions susceptible to climate change impact.

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