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A total of UGX 136 million has been disbursed to 18 new youth groups under the Youth Livelihood Program (YLP) in Kabale District.
This was revealed today during the training session for the benefiting youth groups at Kabale District Rukiiko Hall.
The training, organized by the office of the Kabale District Community Officer, aimed at instructing the 18 youth groups on the usage and recovery of the funds provided to them under the Youth Livelihood Program.
According to Moses Akampurira, the Kabale District Community Development Officer, 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.
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Mr. Akampurira reminded the beneficiaries that the YLP was a revolving fund and, therefore, 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 performed better than the rest by recovering the money on time and making significant progress. Both groups were dealing in agricultural produce, and the district rewarded their hard work by giving them additional capital to boost their businesses.
The Kabale District Administrative Officer, Fred Kalyesubura, also cautioned the youths against spending the money on non-productive things, only to regret later. Mr. Kalyesubura tasked the Subcounty Community Development Officers to guide, supervise, and monitor the youths on the usage and recovery of the disbursed funds.
By the time of filing this story, the district authorities revealed that all the applied-for funds had been wired to each of the bank accounts belonging to each of the 18 youth groups.
The Youth Livelihood Programme (YLP) is a Government of Uganda-financed program designed as one of the interventions in response to the high unemployment rate and poverty among the youth in the country.
It is 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 of 5%. The interest is charged only in the second and third years of usage, implying that groups that refund the money within one year do not pay any interest fee on the received loans.
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