Making finance more readily available to rural youth

More often than not, it is the lack of finance or start-up costs that are the major barrier preventing rural youth from developing their own employment opportunities either on or off farm. Youth often do not have enough capital of their own to invest in a business venture. So while their own financial resources are often lacking this is compounded by the fact that credit is seldom available or adequate for rural youth. Because mainstream banks and credit agencies view youth as 'high risk' they are more often than not unlikely to extend credit or other financing schemes to them. However, given the appropriate support and enabling environment, such youth business enterprises can succeed with rural youth paying back any loans.

Initiative NSL 3 of the Pacific Youth Strategy 2010 encourages governments and development agencies to establish and maintain funding schemes to support youth employment and income-generation initiatives in PICTSs.

Usually start-up costs are small but loans to cover these amounts need to be made more readily available to rural youth.

What we need to know from you are examples of such credit and finance schemes that have been made available to rural youth and which have been used to start up businesses related to agriculture. What are examples of good practice and what are the main lessons learned. We look forward to you sharing your stories.