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Youth groups in Gberay Junction, Port Loko District, have received the third tranche of revolving loans under the YOUTHLEAD Project, an initiative funded by the European Union and implemented in partnership with Trocaire and the Welfare Society for the Disabled.
The Talaneneh and Dim-Din Youth Groups qualified for the latest disbursement after successfully utilising and fully repaying their first and second loan tranches.
Project partners said the groups’ ability to repay the previous loans demonstrates their growing commitment to accountability, financial discipline and responsible management of community-based financial resources.
The revolving fund is aimed at supporting young women and men, as well as young people living with disabilities, to expand small-scale businesses, strengthen their livelihoods and improve their economic independence and resilience.
During the latest disbursement exercise, beneficiaries were encouraged to open individual savings accounts, which would enable them to access personal loan facilities at minimal interest rates.
Members were also reminded to use the revolving funds strictly for business-related activities and maintain proper financial records to ensure transparency and accountability in the management of the loans.
Stakeholders said the initiative is helping to promote financial responsibility among young people while providing them with resources and opportunities to build sustainable livelihoods and contribute to community development.
