An additional 66 youth-led projects across Namibia have been approved for funding under the National Youth Development Fund across all regions, totaling N$37.7 million. The Ministry of Finance announced this on Monday.
This comes after the National Youth Development Fund (NYDF) was launched with 42 projects to the value of N$14.7 million out of 11 475 applications in September. According to the finance ministry, funding for the second round of successful applications will support the creation of 404 jobs in sectors such as agriculture, renewable energy, horticulture, sustainable tourism, waste management, agro-processing, green transport and value-added services.
"The approved projects cover every region and include enterprises such as poultry production, livestock rearing, crop farming, biomass processing, aquaponics, innovative technology services, recycling operations and renewable energy installations," finance ministry spokesperson Wilson Shikoto says.
The Oshikoto and Khomas regions have received the most funding, with N$4.8 million each, while Erongo region received the least funding, with N$888 435. The loan amounts for the 66 projects range between N$88 000 and N$1 million. Assessments and approvals were completed through Agribank and the Environmental Investment Fund.
Read more at The Namibian
