YOUTH ENTRERPRISE DEVELOPMENT FUND

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• YOUTH ENTERPRISE DEVELOPMENT FUND   INTRODUCTION                                                 INTRODUCTION                                                                                                                                           The youth enterprise development fund (Y.E.D.F) Was established by the government in June 2006 as one of the strategies of addressing youth unemployment. The fund is one of the flagship projects of vision 2030, under the social pillar. The fund targets young people within the age bracket of 18 to 35 years.                                                            
•  OBJECTIVES OF THE FUND                                                                    
•  The Fund was designed to address the challenges of youth owned enterprise. Its objectives are as follows;                                                                                                                                                   > Provide loans to youth owned enterprises.                                            
•  >Attract and facilitate investment in commercial infrastructure that will be beneficial to youth enterprises.                                                                                                                                                  > Support youth enterprises to develop linkage with large enterprises.      
•  >Facilitate marketing of products and services of youth enterprises both in the domestic and the international markets.                                          
• > Provide business development services to youth enterprises.                                             
•  >Facilitate employment of youth in the international labor market
• CHANNEL FUNDING.                                                                                                                                    1. Through district committes                                                                     Every constituency has been allocated a revolving fund. The fund has formed community at district level which vet applications forwarded by youth groups Through this component groups start with a loan of Kshs. 50,000 and graduates upward to Kshs. 400,000. Individuals start with Kshs. 25,000 and graduates to Kshs. 100,000 on the third loan. The Fund has introduced a new product where individuals with unique ideas can directly borrow without belonging to a group.                                                                                                                                
•  2.THROUGHFINANCIALINTERMEDIARIES.                                                                         The Fund has partnered with 33 financial intermediaries which include, Non Government Organizations (NGOs), Savings and Credit Cooperatives (SACCOs) and Micro Finance Institutions(MFIs), from which youths access fund up to 1 million(either as an individual or as organized entities) to start or expand business.