Kiryandongo launches 164.8 Millions YLP Funds

By Kundu Ronald

Kiryandongo district leadership led by the district chairperson launched 164.8 million shillings under the Youth Livelihood Program. #WhisperEyeNews #UgandaNews

The money meant to benefit 16 enterprises was disbursed to their accounts and is expected to be paid back to the government after a period of three years.

Aliguma Edith the district chairperson informed the youth that the money is meant to help them get out of poverty by investing it in income-generating activities. She also warned them that the money is a revolving fund and so will have to be paid back to the government so that other youths also utilize the same.

She also stated that the district leadership together with other stakeholders will closely monitor the activities carried out by the youths to help them pay back the money.

The Youth livelihood program which was bankrolled in 2013 has benefited 161 groups worth 1.3 billion shillings but the recovery rate at only 10%. This according to the district chairperson affects the generation of new groups to benefit. 

The Youth Livelihood Program funds are supposed to be paid back after a period of 3 years with an interest of 5% per annum.