The government of Uganda is planning to set up a special fund targeting the youth in a bid to curb unemployment in Uganda.
The Minister of Uganda for Finance, Hajjati Syda Bbumba said this during the budget reading on Thursday this week.
Bumba says that the government of Uganda in its effort to create more jobs has set up the School Leavers’ Industrial Fund to provide funds for the youth to start up small scale businesses.
Gen. Yoweri Museveni in his capacity as the national chairperson of the ruling National Resistance Movement and President of the Republic of Uganda attended the budget reading on Thursday.
President Museveni indicated that the fund will provide loans to the youth to invest and later pay back at a minimal interest rate.
The World Bank statistics shows that Uganda has the highest number of unemployed youth in the world.