Following the signing of a financial agreement with KFED, a Dubai-based government agency, during a ceremony attended by H.E. President Kenyatta and held at State House, the Youth Enterprise Development Fund (YEDF) will receive a boost of KSh.3Bn for lending to youth-owned firms.
Speaking during the occasion, President Kenyatta said that the additional capital will boost the loan disbursement kitty from USD 130 Million to USD 161 Million by 2024, thus adding more than 100,000 jobs into the economy.
The Youth Fund has disbursed Kshs. 14.2B benefiting over 2 Million youth across the country.
It has disbursed Shs. 1.1B since the first case of COVID 19 in Kenya which sustained youth-led enterprises and aided in their diversification of services and products.