Government has this year
allocated 11.8 billion kwacha as Youth Development Fund (YDF)to the Ministry of
Youth and Sport to be disbursed to deserving youth groups, associations and
youth led entrepreneurs as loans and grants.
Youth and Sports Minister
Chishimba Kambwili says the fund is divided into two parts one being 6.7
billion kwacha for the loans and the other being 4 billion kwacha for the
grants.
Mr. Kambwili has pointed out
that the loans are available to youth groups, youth owned enterprises and youth
owned cooperatives that will be involved in income generating activities in
various priority sectors such as manufacturing, education, creative industries
and health among others.
He adds that grants on the
other hand are open to youth associations, youth NGOs and any other youth
focused organizations whose work or activity contributes to the empowerment and
mainstreaming of the youths.
The Minister says applicants
for the youth development fund grants
will be required to clearly demonstrate how the project will contribute to the empowerment,
mainstreaming and participation of youths.
The Ministry Of Youth And
Sports Has further Given Youth Empowerment Fund Debtors Two Months In Which To
Start Paying Back What They Owe The Ministry Or Risk Being Prosecuted.
Mr.
Kambwili Says After Two Months, His Ministry Will Also Publish Names Of
Organisations And Companies Which Got The Money Under The Previous Regime And
Have Failed To Pay Back As It Was Given On Part Lines.
Mr.
Kambwili Says Out Of A Combined Loan Portfolio Of 4.1billion Kwacha From The
2012 And 2011 Allocations Of The Youth Development Fund, Only 110billion Kwacha
Has Been Paid Back, Which Represents Repayment Rate Of Less Than 1 Percent.
He
Also Says From The Total Of 10 Billion Given Out As Grants In 2010 And 2011,
There Were No Proper Criteria For The Disbursement Of The Grants.
Mr.
Kambwili Says The Funds Were Abused And Disbursed For Political Expedience And
There Has Never Been A Significant Impact On The Empowerment Of The Youths So
Far.
He
Further Says Considering The Challenges That The Youth Development Fund Faced
In The Past Under The Mmd, Government Is In The Process Of Establishing An
Effective And Efficient Mode Of Managing The Fund.
Mr.
Kambwili Says His Ministry Has Also Set Up An Inter-Ministerial Committee
Comprising Members From The Line Ministries And Other Specialized Government
And Non-Governmental Organisation With Expertise And Experience In Managing
Citizen Empowerment Initiatives.
And
Mr. Kambwili Says For The Fund To Be
More Transparent And Responsive To The Needs Of The Youths, His Ministry Has
Also Created The Provincial Youth Development Fund Committees
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