14 April 2008
Sumbe — The Savings and Credit Bank (BPC) granted, this year, to coastal Kwanza Sul province, USD 300,000 for government's "Youth Credit" programme, whose beneficiaries have started receiving their share last Monday, in Porto Amboim district.
In the region, the activity is being co-ordinated by the provincial director of Youth and Sports, João Ambrósio Neto.
Speaking to ANGOP after formal credit concession ceremony, João Ambrósio Neto said that in this first phase the project will give priority to youths associated in agriculture co-operatives, service stations and rethreading, an amount ranging from USD 2,000 to 25,000.
"In the first phase, the project will benefit youth groups in co-operatives of the districts of Seles, Conda, Porto Amboim, Sumbe, Kassongue and Cela", stated the provincial director of Youth and Sports.
He also referred that this phase will only spend 115,000 of the USD 300,000 granted by BPC for Kwanza Sul province.
The "Youth Credit" was launched in April 2007 by the Youth and Sports Ministry in partnership with BPC and Sol Banks, with the aim of improving the socio-economic lives of youths and contribute to the fight against poverty.
The "Youth Credit" counts on the support of USD five million for youths countrywide, especially those who are unemployed.
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