The Uganda Minister of Finance, Planning and Economic development, Hon. Syda Bumba has indicated that government of Uganda has allocated funds to set up a fund for school leavers to help reduce the problem of unemployment in the country.
According to a 2008 World Bank report, Uganda has the highest youth unemployment rate and the youngest population in the world which analysts believe is the cause of political unrest due to their increased involvement in Uganda’s political opposition riots.
Bumba while reading the Uganda 2010/11 National Budget at Kampala Serena Hotel says the budget will be managed by the Uganda directorate of industrial training.
The minister says, the fund will enable school leavers get long term loans payable up to 8 years with very low interest rates of 4 percent per annum.
The Uganda Finance Minister says Uganda shillings 4 billion has already been allocated to the fund. She says the fund will be managed by Uganda Directorate of industrial training.
Bbumba says the fund will help reduce unemployment in the country.