NEWS- A total of Ugx 136 million has been disbursed to 18 New Youths Groups under the Youth Livelihood Program- YLP in Kabale District. This was revealed during the training session for the benefitting youth groups at Kabale District Rukiiko Hall.
The training organized by the office of the Kabale District Community Officer was aimed at training members of the 18 youth groups on usage and recovery of the funds given to them under the Youth Livelihood program.
According to the Kabale District Community Development Officer Moses Akampurira, the money disbursed to the selected groups, was part of the Ugx 310 million recovered from the total of Ugx 965 million which had been disbursed to the Youths since the program was initiated in the 2013/2014 financial year.
Akampurira reminded the beneficiaries that YLP is a revolving fund, and therefore money must be returned after a maximum period of three years, so that other groups can benefit.
He further mentioned that the Rubaya sub county based Kabirago and Muguli Youth Groups had done better in timely recovering the money and making significant progress. Both groups were dealing in agricultural produce, and the District rewarded their hard work with additional capital to boost their businesses.
Cue in………..…Akampurira on YLP
The Kabale District Administrative Officer Fred Kalyesubura also cautioned the Youths against spending the money on non-productive things, just to regret later. Kalyesubura tasked the Sub county Community Development officers to guide, supervise and monitor the youths on usage and recovery of the disbursed funds.
Cue In…………CAO Kalyesubula on YLP
By the time of filing this story, the District Authorities revealed that all the money applied for, had been wired to each of the bank accounts belonging to each of the 18 Youths Groups.
The Youth Livelihood Programme (YLP) is a Government of Uganda financed programme designed as one of the interventions in response to the high unemployment rate and poverty among the youth in the country.
It’s a revolving fund, covering all the 146 Districts of Uganda. Organized groups of youths apply for, and receive loans payable within a maximum of three years, with an annual interest in 5%.
The interest is charged only on the second and third year of usage, implying that groups that refund the money within one year, do not pay any interest fee on the received loans.
