Youth Fund halts loans recovery, CRB listing in virus fight
Tuesday, May 19, 2020 0:01
By BONFACE OTIENO
The relief to borrowers will end once the fund is satisfied that the enterprises are not affected by coronavirus.
FILE PHOTO | NMG
The Youth Enterprise Development Fund (YEF) has suspended recovery of loans and listing of defaulters with the credit reference bureaus to cushion beneficiaries from the impact of Covid-19 pandemic.
The fund, in a letter addressed to members, said Monday the moratorium on loan repayments would target youth whose servicing abilities had been affected following the outbreak of coronavirus.
“The moratorium on loan repayments by youth-owned small-medium enterprises financed by the fund started on April 1.
Mr Muthendi said the fund suspended blacklisting of youth-owned enterprise whose loan account fall overdue or in arrears.
