Hard Lift Foundation in Bijilo and Sama Nyiyandi women Kafo received D30,000 each, while Aspiring Nyodema JA Company, a group of young entrepreneurs trained under the ChildFund Junior Achievement programme, received D20,000 meant to develop themselves through engaging in productive business enterprises.
The said money is repayable within a period of one year, and only registered associations with an account could have access to the loan from the KNF.
The support came after several appeals from the beneficiaries extended to their office, said Alieu Mendy, manager of KNF, during the disbursement.
He told the beneficiaries that the loan is a one-year repayable credit with only 5 per cent interest rate.
The earlier they settled the loan the better their chances of accessing another one, he said.
According to him, the first disbursement would determine the future of the project, adding that its management would also determine the next level of the project.
“You have taken the promise to make a positive impact from the loans on yourselves, families and children. We will always maintain our commitment to support children, youths and families,” he said.
Mendy told the gathering that giving support to a youth-led company would help in the federation’s crusade against irregular migration.
He reminded the beneficiaries that mismanagement of the funds would not be accepted, and that they must strive to settle the loans at the agreed time to enable other groups to also benefit.
Mr Mendy further emphasized that the KNF does not want to listen to mere excuses, but for them to repay back when the time is due.
According to Mendy, taking a loan is always easy, but to repay remains a major problem for certain individuals.
He said the KNF would not listen to any excuses regarding the repayment of the loans, as others are also entitled to have access to the loans; so the success of this pilot project depended on the beneficiaries.
Mr Mendy also stated that there are more than two thousand enrolled parents, but they decided to give to only three associations, which he said was a sign of the big trust in them.
“This is a big challenged on the beneficiaries’ associations, as we have confidence in you. So you need to know the people that you will give the money to engage in business,” Mendy advised the beneficiaries.
He also urged them to be actively involved in many businesses, or have contact with experienced people in business.
He said it was a fact that any business has a risk, but they must take up the risk and ensure that they engage in productive businesses.
According to Mr Mendy, development is all about empowering the grassroots community, and one way of achieving such development is by changing attitude towards work, and toward our development.
He said that what the KNF wants to see is the impact that they make by investing in the community.
Dembo Kuyateh, child and youth officer of the federation, said if people reduce expenditures on social events, they would value money and manage it wisely.
He assured the beneficiaries that the federation would be always ready to stand by them and support them, while calling on parents and families to give attention to the protection of children.
Ebra Faal, the federation board chairman, called on the beneficiaries to ensure the maximum utilization of the funds, reminding them that the loans were disbursed on agreed terms by all.
“We are not giving loans to individuals, but to groups collectively working together for the sake of our sponsored children,” he said.
Binta ML Ceesay, a stage two officer in the federation, said the selection criteria of the beneficiaries was based on their registration, engagement in an ongoing business and holding a bank account.
“We cannot give money to children to manage it; that is why we are giving it to you so that it can directly benefit the children,” she said.
The manager of Aspiring Nyodema JA Company, Lamin Ceesay, in his vote of thanks expressed gratitude to the KNF for the support, assuring all that they would do their best to ensure the maximum management of the fund and its timely repayment.
