Government releases GH¢35m to clear NYEP arrears

The government has released GH¢35 million to clear all arrears owed beneficiaries of the Ghana Youth Employment and Entrepreneurial Development Agency (GYEEDA) formally known as the National Youth Employment Programme (NYEP).

The money covered arrears spanning July-November 2012 which also include allowances for all beneficiaries in the month of November.

The Executive Director of GYEEDA, Mr Abuga Pele, told the Daily Graphic that beneficiaries across the country would begin receiving payment of their arrears and current allowances from Friday, November 30, 2012 and directed all regional co-ordinators to ensure the prompt payment of allowances to the beneficiaries.

“The banks are also expected to cooperate with GYEEDA to release all the arrears and current allowances of beneficiaries without any delay,” he said.

President John Mahama in his policy statement to the nation after assumimng the presidency, directed the Ministry of Finance and Economic Planning to release funds for the payment of all arrears owed the beneficiaries.

Mr Pele informed beneficiaries under the Trades and Vocation module that the set up process for dress making and hair dressing would soon take place across the country starting from the Greater Accra Region.

Registered unemployed youth seeking support under the GYEEDA as of June this year stood at 2,013,335 and according to the executive director, the greater number of persons waiting to be absorbed into the agency and the challenge of limited resources to support activities was of concern to the government.

In its bid to cater for the large numbers of unemployed youth, the new policy direction of the GYEEDA had been to move away from the over emphasis on the traditional modules or pay role modules which places a huge burden on government finances.

In exploring other funding alternatives, Mr Pele explained that the GYEEDA was seeking partnership with and grants from the donor community.

The Ministry of Youth and Sports, in furtherance of that, Mr Pele added, had established a Business Advisory Unit under the GYEEDA, to identify business opportunities for beneficiaries and link them to micro credit schemes and markets under the World Bank.

Source: Daily Graphic