
In its Empowerment Program YELI has launched the Village Savings and
Loans Associations (VSLA) program to initiate savings and loan's
competences among youth (Single Mothers, Deaf People, youth Clubs.

Village
Savings and Loan Associations is a type of microfinance that is managed
by communities which provide communities with access to savings, credit
and insurance services. Association members are self-selected and
self-governed. They meet on a weekly basis to deposit their savings.
After five weeks of saving, members can take credit of up to three times
the value of their savings, depending on the amount of money available
from the savings of all of the members. Members then repay the
association within three months, with an interest rate that is set by
the VSLA (typically 10% of the value of the loan). The role of YELI is
to facilitate the creation of associations, train them on the
methodology, and provide them ongoing support during the first
nine-month cycle of savings and credit. After this period, the VSLAs
become independent and have little or no need of further assistance.
Young
people's participation on the development and employment prospects are
essential elements in poverty reduction. Considering this, the long-term
development objective of the project is to contribute to national and
regional efforts for the improvement of youth economy and the promotion
of youth entrepreneurship, determining young people as key actors in
local development. The project aims to strengthen the capacities and the
economic development of young Burundians from six communes of
Bujumbura. 7488 youth organized in 312 youth groups will benefit from
the project through participating in life skills, leadership and market
oriented entrepreneurship trainings, and through expanding their
networks and abilities to obtain funding for the development of their
small enterprises. The project will improve young people's abilities to
network, their employment possibilities and possibilities to sustain
group activities.

The project will be implemented through the following strategies:
.Enhancing youth groups'knowledge and capacity on entrepreneurship, occupational and leadership skills and life skills;
.Improving youth groups'self-sustainability and social participation; and
.Creating a mode of operation and networking between youth groups.
The project aims to:"Support for youth leadership, cultural identity and occupational training as a tool for development .
in
selected communities in Bujumbura and "Promotion of young
adults'leadership, cultural identity as a tool for sustainable
development in communities located in Bujumbura", which focused on the
promotion of youth'leadership skills, in Bujumbura as a mean to support
their Sustainable development. This project has also a component of
market driven employment training. YELI will develop specific strategies
in these areas.