Roadshows to raise awareness on loans for youths

PUTRAJAYA: The number of applicants for the Youth Economic Promotion Council low-interest loans is picking up following the global economic c risis, said Deputy Youth and Sports Minister Wee Jeck Seng.

“However, we are still trying to increase awareness about the loans by organising roadshows in different parts of the country,” he told reporters after a meeting with the Selangor MCA Youth leaders here yesterday.

As at April 13, Wee said about 40% of the 1,760 applications had been approved with about RM24mil disbursed to 679 borrowers.

The loans, with an interest rate of 4%, were introduced by the council in 2007 to help young people start new careers.

They are given through Bank Pertanian and Bank Rakyat. The maximum loan amount is RM50,000 and the minimum is RM5,000.

Selangor MCA Youth chief Dr Kow Cheong Wei said the movement hoped to collaborate with the ministry to organise more sessions for youths from different racial groups.

“We would like to organise such activities to realise the Prime Minister’s 1Malaysia concept.

“We hope programmes allowing young people to express their views can be conducted,” he said.