The government ofUgandahas agreed with commercial banks to fix interest rates to be charged on money given out to the youth in form of loans.

The minister ofUgandafor Finance Minister, Maria Kiwanuka says that the banks will charge 15% for a period of six months.

Some of the banks the government has agreed with include Stanbic Bank, DFCU Bank and Centenary Bank.

Ms Kiwanuka says that the government has put aside 25 billion shillings in the 2011/2012 national budget for the unemployed youths.

Ms Kiwanuka signed the Memorandum of understanding with Centenary Bank, DFCU Bank and Stanbic bank managers inKampalatoday.

Ultimate Media