FG Launches 10 Billion Naira Youth Entrepreneurship Support

photo source: thenationonline.net

 The Minister of Trade, Industry and Investment, Dr Okechukwu Enelamah on Thursday officially inaugurated the Bank of Industry's (BoI)'s 10 Billion Naira Youth Entrepreneurship Support (YES) scheme, which is aimed at developing the Entreprenural capacity of youths and also help in providing start up loans at considerably interest rates for the execution of their business planms.
 The acting Managing Director of the Bank of Industry BoI, Mr Rasheed Olagunju said that the beneficiaries would have to provide two external guarantors acceptabl to BoI who must belong to any of a senior Civil Servant (Level 12 and above who should not be more than 53 years old or not more than 28 years in service, Bankers (not below the level of Assistant Manager) and must have been confirmed by current employer.
 According to them; the scheme will allow eligble beneficiaries to access a maximum of 5 Million Naira loan (with minimal interest), which will enable the procurement of machinery and equipment and also working capital.