Govt avails $12m youth facility 

Govt avails $12m youth facility 

Source: Govt avails $12m youth facility | The Herald March 30, 2018

Govt avails $12m youth facility
Cde Matutu

Midlands Correspondent
GOVERNMENT has availed a $12 million loan facility for youths and is now working on the guidelines and conditions for accessing the money.

Addressing youths during the launch of the #EDhasMyVote campaign in Midlands over the weekend, deputy secretary for Youth Affairs in the Politburo, Cde Lewis Matutu said the party had resolved that the loans should not be issued in monetary form to avoid non-performing loans.

He said the Empowerment Bank, which will be issuing loans, will only release the money to suppliers of equipment and implements that the applicant want to acquire with the loan.

Cde Matutu said this decision came after realising that most loans accessed by the youths under a similar facility were abused and not repaid.

“Youths loans are something that we are working on. We have been discussing with the bank that will be managing the loans so that they set the guidelines on how they can be accessed and disbursed.

“We are trying to avoid the previous scenario where youths were given loans and most defaulted on their repayments for various reasons.

“We have to sit down with the bank, the minister and the youths to see and decide on the best approach to avoid the issue of non-performing loans,” he said.

COMMENTS

WORDPRESS: 1
  • comment-avatar

    As usual, people would rather die in hospitals because zanu pf government has no money to address doctors’ genuine concerns, which include:
    -“no remuneration/salary” except for some peanuts that can only qualify for as student stipends in many SADC countries;
    -no drugs, no proper food and no proper beds for patients;
    -no personal protective equipment for health personnel; and
    -no tools for health people to use and do what they were trained to do.

    But now zanu pf has all the millions of dollars to give to its thugs (in the name of some youth programme, which actually not) so that they get over-fed and go out and perpetrate all sorts of violent activities in over to cow people & force them to vote for zanu pf. This is open vote-buying again. Nxaaaaa!!!!!!!