City Disburses 1.7b Br Revolving Fund

December 7 , 2019


City Disburses 1.7b Br Revolving Fund

Out of the two billion Br in revolving funds allocated to create jobs in the city, 1.7 billion Br has already been disbursed to more than 26,000 youths. In the first quarter of the current fiscal year, 1.4 billion Br was disbursed, while the remaining funds are expected to be fully distributed to the beneficiaries in the second quarter of this fiscal year. The number of team members in an enterprise has been revised down from five to three people, while the initial deposit requirement was also decreased from 10pc to five percent. The earlier age limit imposed on female beneficiaries has been lifted altogether. The youth groups organised in more than 7,100 enterprises have already received the funds to commence their business projects from Addis Credit & Saving Institution, which is in charge of channeling the funds.


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