The main objective of the Commonwealth Youth Credit Initiative is the creation of employment opportunities for unemployed young people through training and credit support. Therefore, there is increased access to and opportunities through micro-credit for disadvantaged youth. Disadvantaged young women and men are trained in financial and enterprise management and are approved for credit to establish successful businesses. Thus there are increasing numbers of young people in gainful employment . The programme also increases the knowledge of young people and youth-related organisations in the operation and management of credit programmes.
The specific objectives are as follows:
The Commonwealth Youth Credit Initiative (CYCI) completed a three-year pilot cycle at Ahmedabad, Gujarat, India in 1999. This was as mandated by the Commonwealth Youth Ministers Meeting of 1995. The pilot project was conducted in collaboration with the International Centre for Entrepreneurship and Career Development (ICECD). It became self-sustaining after three years with operational self-sufficiency of 98 percent. Over 2,500 young people in India were trained and provided with small loans.
Commonwealth Youth Credit Initiative (CYCI) Project Cycle