More than 18,000 young people in eight districts have applied for collateral-free financing from a Tk 500 crore fund set up by Bangladesh Bank to help young people become entrepreneurs. Netrokona district submitted the most applications in the pilot.
Applications were taken in the eight districts from 16 September to 15 October under Bangladesh Bank’s “Upazila-based Young Entrepreneur Search, Identification and Financing Programme”.
By district, Netrokona submitted 5,351 applications.
Rangpur submitted 2,745, Naogaon 2,456, Jhenaidah 2,191, Habiganj 1,552, Bhola 1,545, Manikganj 1,343 and Feni 1,261.
Central bank sources said that, given the response to the pilot, applications will now be taken from young people in other districts too. Those outside the eight districts can apply at any bank branch in their upazila from 1 to 30 November.
5,030 to be funded
The programme aims to finance 5,030 young entrepreneurs in 503 upazilas across the country.
Bangladesh Bank and partner commercial banks will each put Tk 250 crore into the Tk 500 crore fund.
Each entrepreneur will receive between Tk 10 lakh and Tk 20 lakh. Part of it is to be given as a grant and the rest as a loan at 4 to 7 percent interest.
Who is eligible
Applicants must be no older than 28 on the last day of applications.
People who have previously taken a loan from a bank or financial institution, loan defaulters, and those working in government, semi-government or autonomous bodies are not eligible.
The financing will go to new ventures in agro-based industry, food processing, handicrafts, fisheries, livestock, tourism, light engineering and renewable energy, among other sectors. Technology-based start-ups in e-commerce, fintech, adtech, agritech and healthtech, and other legal income-generating ventures, are also covered.
বাংলায় মূল প্রতিবেদন পড়ুন · Read the original Bengali report