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Ngurare announces additional youth development funding for Agribank
['Guest Contributor', 'Mandisa Rasmeni', 'The Staff Reporter']
Namibia Economist
The Prime Minister, the Right Honourable Dr Elijah Ngurare said Agribank is one of the finance institutions mandated to implement the National Youth Development Fund.
Of the N$40 million allocated to Agribank under the fund, approximately N$23 million has been approved for benefiting 66 young people through youth-led agribusiness.
In addition, approximately 1400 loan applications are currently under review, demonstrating the continued demand for funding under the Youth Development Fund and the bank`s commitment to support youth participation in the agricultural sector.
The Prime Minister said loan applicants must be assessed in accordance with the fund’s approved framework and no additional requirements, such as collateral or educational qualifications should be introduced.
Our collective responsibility is to help young Namibians develop those ideas into viable and sustainable businesses,” he said.