By Staff Reporter
Government through the Ministry of Youths and Sports (MYS) is in the process of suing and prosecuting youths in Eastern province who have failed to repay 2013/2014 loans under Youth Development Fund (YDF).
MYS disbursed a total of K2.3 million to 90 young entrepreneurs in Eastern Province but only a few have adhered to repayment conditions.
Aside 2013/2014 funding only K331,000
out of K650,000 has been recovered from
17 youths in Chipata who got the loans in 2012.
And Eastern Province acting youth development co-ordinator
Trywell Moonga says defaulting youths will be prosecuted so that the government can recover the money and lend it to other deserving applicants.
Mr. Moonga said there is need for youths who access the loans to pay back on time.
He said the YDF is a revolving fund and so any delay in repaying the money deprives others of such empowerment funds.
Mr. Moonga said youths submit good business proposals to access the funds, but misuse the money on other activities.
He added that frequent monitoring of projects will be done.
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