Government eases conditions for young loan applicants
Professor Ndalichako said the loans will enable them to expand their business ventures and contribute to the country’s economy.
She made the remarks yesterday in Dar es Salaam at the climax of International Youth Day which brought together over 600 young people and stakeholders from across the country.
She said the government’s aim was to enable individual young people who have the capacity to manage their own economic projects to easily access funds and develop their projects.
This is contrary to what happened before where young people were only allowed to apply for loans in groups.
Professor Ndalichako said experience has shown that most young people who received group loans failed to repay their debts for several reasons, including infidelity among themselves.
“We have lifted restrictions on young people seeking loans to develop their projects as individuals to obtain loans after meeting all the criteria set by Levy Skills Development,” she said. .
She called on all young people who have taken out loans from other sources, including local councils, to repay so others can benefit from the funds.
According to her, there are a number of young people who have not yet repaid their loans, which prevents others from accessing them.
Prof. Ndalichako also urged young people to report to gender desks any ills related to violence.
“If there is any harm related to violence, let us immediately report it to the nearest gender offices in order to stop the growing problem. Young people should be at the forefront in this,” she said.
UN Development Program (UNDP) country representative Christina Musisi said most face many challenges, including the degradation of the planet, the consequences of the Covid-19 pandemic, access funding and the rising cost of living.
She said UNDP was working hand in hand with the Tanzanian government to create an enabling environment for young people to access financial resources.
UNFPA Country Representative Dr. Wilfred Ochang stressed the need to empower young people to achieve their dreams.
“We need to give young people the financial means to realize their dreams,” he said.
He further urged the youth to prepare and ensure that they participate in the upcoming population and housing census.