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{
    "id": 236178,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/236178/?format=api",
    "text_counter": 169,
    "type": "speech",
    "speaker_name": "Dr. Kuti",
    "speaker_title": "The Minister of State for Youth Affairs",
    "speaker": {
        "id": 60,
        "legal_name": "Mohammed Abdi Kuti",
        "slug": "mohammed-kuti"
    },
    "content": " Thank you, Mr. Speaker, Sir. Whereas an appropriate formula is being worked out, we may have an equal amount to all the districts, and an additional amount using the score from the population of young people. (ii) The Ministry will identify financial service providers countrywide, including banks, savings and credit co-operatives, co-operative societies, micro-finance institutions and Post Bank. Funds will be channelled through these institutions using agreements drawn between the Government and each financial service provider. (iii) Youth and youth groups implementing income generating activities will be encouraged to make applications to the financial service provider in their area to access the funds. Such arrangement will enable the fund to commence disbursement soonest and avoid having to create a huge and expensive bureaucracy. (b) Disbursement of funds from the Youth Enterprise Development Fund will commence in the second quarter of the current financial year, 2006/2007. (c) Yes, the Ministry hopes to ensure equity based on the number of youth in each area. This will be achieved through:- (i) Initially disbursing district allocations that will be objectively pre-determined. Subsequent allocations would, however, increase for districts that have good borrowing and repayment rates. This will not only motivate slow repaying districts to improve, but also facilitate sustenance of the revolving fund. (ii) The Government to invest in entrepreneurship training to minimize perceived unbankability of the youth by financial providers and increase borrowing through such training. (iii) Finally, negotiating with financial institutions to design products that are affordable even in the remotest areas. Thank you, Mr. Speaker, Sir."
}