President Lazarus Chakwera has approved K3.5 billion for National Youth Service to be disbursed across all the 193 constituencies in the country.
Minister of Youth Richard Chimwendo Banda has confirmed the development in an interview with Privately owned Zodiak Broadcasting Station.
Chimwendo said that the K3.5 billion will be used to train youth in entrepreneurship and after successfully undergoing the training the youths will be presented with start up capital.
“The focus is we want young people to venture into Agribusiness like poultry farming. So after training, these young people will be provided with start up capital and further to that they will be linked to Microfinance institutions like the National Economic Empowerment Fund (NEEF) as well as TEVETA for further skills training,” said Chimwendo.
Meanwhile, Chimwendo says the approved K3.5 billion is just for this year, the fund is expected to grow.
“Apart from the K3.5 billion, the Ministry of Youth will also work with other stakeholders like TEVETA and Ministry of labour to provide technical support to compliment this project and the amount is expected to grow year after year,” said Chimwendo.