The Technical Education and Vocational Training Authority (TEVTA) and the Bank of Khyber (BoK) have signed a memorandum of understanding (MoU) to offer interest-free business loans to skilled youth in Khyber Pakhtunkhwa, as part of the provincial government's Ehsaas Hunar Program.

During the signing ceremony, Tufail Anjum, Special Assistant to the Chief Minister on Technical Education, hailed the program as a flagship initiative aimed at empowering young individuals by helping them start their own businesses.

The project, executed through BoK, has been allocated over Rs. 3 billion, with Rs. 200 million designated for the fiscal year 2024-25. Through this scheme, approximately 35,000 skilled individuals will receive business loans. Eligible applicants can secure interest-free loans of up to Rs. 500,000, repayable in 36 installments.

The initiative targets skilled Khyber Pakhtunkhwa residents between 18 and 40 years old who hold a skill certificate or diploma.

Senior officials, including Secretary Industry Amir Afaq, the Managing Directors of BoK and TEVTA, and other dignitaries, attended the signing event. According to the officials, this program marks a significant step in fostering youth entrepreneurship and economic growth.