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| Commonwealth
Youth Credit Initiative (CYCI) |
| Objectives
–
The
main objective of the Commonwealth Youth Credit Initiative is the
creation of employment opportunities for unemployed
young people through training and credit support. Therefore, there
is increased access to and opportunities through micro-credit
for disadvantaged youth. Disadvantaged young women and men are trained
in financial and enterprise management and are approved
for credit to establish successful businesses. Thus there
are increasing numbers of young people in gainful employment
. The programme also increases the knowledge of young
people and youth-related organisations in the operation and management
of credit programmes. |
| The
specific objectives are as follows: |
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Identify potential young people, assess their credit needs
and develop their credit management and entrepreneurial capabilities.
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Implement
and evolve an effective credit delivery and monitoring system
to support young people through credit. |
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Achieve
self-sustainability in terms of generating adequate funds
for continuing the programme and also in terms of borrowers
self-sustainability to lead them towards financial independence.
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Ultimately
help these young borrowers to increase their creditworthiness
and demonstrate business success to graduate from targeted
small credit receivers to borrowers from formal financial
institutions like banks. |
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The
Commonwealth Youth Credit Initiative (CYCI) completed a
three-year pilot cycle at Ahmedabad, Gujarat, India in 1999.
This was as mandated by the Commonwealth Youth Ministers
Meeting of 1995. The pilot project was conducted in collaboration
with the International Centre for Entrepreneurship and Career
Development (ICECD). It became self-sustaining after three
years with operational self-sufficiency of 98 percent. Over
2,500 young people in India were trained and provided with
small loans.
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Commonwealth
Youth Credit Initiative (CYCI) Project Cycle
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Commonwealth Youth Programme Asia Centre,
Commonwealth Secretariat, Sector 12, Chandigarh,
India |
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