definition of terms: 1.OUT OF SCHOOL YOUTH-any youth wu is not currently attending any school nd/or training 2.Unemployed-not in any formal employment or not operating any form of business 3.underemployed-employd on a part time or full time basis nd erning below p500/month, operates a small subsistance business making an average of p500/month turnover,(Note: a salary slip nd employment letter shub b produced as proof) 3.Recipient/beneficiary-youth who recieves the fund for approved project(shall b expected to work fulltime in the project/business) 4. fund-financial assistance given to the youth beneficiaries in the form of 50% grant nd 50% interest free loan. 5Grant- funds given out to youth for approved projects. beneficiaries not expected to return such funds. This grant comes with issues of accountability nd responsibility by the grantee nd signing of a memorandum of agreement with Botswana govt. wich is valid for 5 years. 6.Loan-funds given to youth for approved projects which the beneficiary shall be expected to repay with no interest. In cases of default, a 5% interest rate will b charged per month to the arrears. This loan comes with issues of accountability nd responsibility by the youth nd signing of a memorandum of agreement with the Botswana Govt. wich is valid for 5 years source:mysc.gov.bw/sites/all/themes/peet.../YDF_guide_revised.pdf
Posted on: Fri, 12 Jul 2013 15:20:17 +0000
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