President William Ruto has announced that the government will cover refunds for the NYOTA Programme, which is funded by the World Bank.
While addressing residents of Kakamega on Friday, November 7, where he officially launched the programme, President Ruto stated that the NYOTA initiative is designed to empower young people in business and that beneficiaries will not be required to repay the money to the government.
“I am standing before you to thank the World Bank for partnering with us in this initiative. The money we are giving out today is a loan from the World Bank, but it’s not for you to repay; the Government of Kenya will settle it later,” said Ruto.
The Head of State reiterated that the money is meant solely for the beneficiaries and is intended to uplift their businesses.
He urged those who will receive the NYOTA funds to use them wisely, emphasizing that the money is meant to improve their livelihoods.
“This money is a loan we took from the World Bank. As the government, we will repay it, but we are giving it to you to help you grow your businesses; you will not repay it. So, you must use it wisely because it is meant to help you uplift yourselves,” said Ruto.
Ruto Says Government Will Repay World Bank Loan for NYOTA Programme
Additionally, President Ruto announced that the remaining Kenyans will receive the first batch of the NYOTA Programme funds within the next 10 days, with each beneficiary set to receive KSh 25,000 out of the total KSh 50,000.
“Their turn is coming. In the next 10 days, we want to complete this programme. We want it to reach every beneficiary within that period. I am asking the Ministry to work with our friends and partners to ensure that, within two weeks, all 110,000 identified beneficiaries receive their first tranche of funds so that we can uplift the business environment for young people in our nation,” said Ruto.
Also Read: Ruto Issues Orders on NYOTA Funds as Select Youth Receive Ksh25,000 Instantly
A total of over 12,000 successful project applicants for both the Business Support and On-the-Job Experience components drawn from four Western Kenya counties of Bungoma, Vihiga, Kakamega and Busia received notifications through the official NYOTA Project messaging channel immeidately after President Ruto launched the project.
“Dear beneficiary, you have successfully unlocked your start-up capital. Ksh22,000 has been sent to your Pochi la Biashara wallet. Ksh3,000 will be sent to your Ziidi account,” the notifications read.
About the Programme
The National Youth Opportunities Towards Advancement (NYOTA) project is a 5-year job-creation initiative by the Government of Kenya, in partnership with the World Bank, aimed at improving the livelihoods of vulnerable and marginalized youth in Kenya.
Also Read: Process of Verification for NYOTA Programme
The project targets to benefit at least 820,000 vulnerable youth aged between 18 and 29 years and up to 35 years for persons with disability in all the 1450 wards across the country, with up to Form 4 education level, and provides equal opportunities to both male and female youth.
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