The Prime Minister’s Youth Program has distributed Rs209 billion to 31,700 young business owners through the Prime Minister’s Youth Business and Agriculture Loan Scheme over the past eight months, significantly boosting youth empowerment and entrepreneurship.Â
The initiative aims to equip young individuals with the financial resources needed to establish and expand their businesses, fostering employment and economic growth.
According to official data, Rs209 billion has been disbursed among young entrepreneurs. Under the scheme, interest-free loans of up to Rs500,000 are provided under Tier 1. In Tier 2, loans ranging from Rs500,000 to Rs1.5 million are offered at a 5% interest rate, while Tier 3 covers loans from Rs1.5 million to Rs7.5 million at a 7% interest rate.
The loan facility is being provided through 15 banks, ensuring accessibility for aspiring entrepreneurs. Additionally, the program features a streamlined online application process to simplify loan acquisition.
This milestone achievement reflects the government’s commitment to fostering a supportive environment for young entrepreneurs, enabling them to contribute to the country’s economic development and long-term prosperity.
