YOUTH BUSINESS RUSSIA

Run by IBLF in partnership with The Prince’s Youth Business International, YBR allows young entrepreneurs to start their own business by granting access to low-interest loans, high-quality mentoring and training in the various aspects of running a business.  The programme is active in the regions of Russia including Vladivostok, Voronezh and Kaluga, Novosibirsk and Moscow and has funded the business projects of over 100 young people. To read about it in detail, please click here.

In Russia, Youth Business Russia (YBR) is run by IBLF Russia, the Royal Bank of Scotland and Oxfam, with the assistance of YBI. 

WHAT YBR BRINGS:

To young people:

• self-development
• economic independence
• creative liberty

To local authorities and society:

• job creation
• socio-economic involvement of youth
• unemployment reduction
• increase of wealth and prosperity
• development of a competitive landscape
• development of a small business sector

To business

• reputation enhancement
• establishing strong ties with the local communities
• strengthening employee motivation through involvement in socially significant projects

CREDIT TERMS

• young people aged 18-35 are eligible for loans;
• Up to 150 000 rubles (about $4300) is the credit lim it;
• low interest – 12% per annum;
• the credit period – from 1 to 3 years with a possibility of a grace period of up to 3 months;
• no collateral;
• the basis for granting a loan is the applicant’s business-plan which is reviewed and approved by members of the Selection Panel.

Results in the pilot regions (as of November 2011)