Over the past eight months, the Prime Minister’s Youth Program has granted loans totaling Rs 209 billion to 31,700 young entrepreneurs through the Prime Minister Youth Business and Agriculture Loan Scheme. This initiative aims to support young individuals in starting or expanding their businesses, thereby boosting economic growth and creating new job opportunities.

The loan scheme offers three tiers of financial support to cater to various business needs. The first tier provides interest-free loans of up to Rs 500,000, making it easier for small startups to secure funding without the burden of interest payments.

For those requiring more substantial funds, the second tier offers loans ranging from Rs 500,000 to Rs 1.5 million at a low 5% interest rate. This option is ideal for businesses looking to grow and invest further in their operations.

The third tier targets larger business projects, offering loans between Rs 1.5 million and Rs 7.5 million with a 7% interest rate. This higher loan bracket is particularly beneficial for ambitious entrepreneurs who need significant capital to scale their ventures.

The program has partnered with 15 banks nationwide, ensuring wide accessibility to the loans. Additionally, a simple online application system has been implemented, allowing young business owners to apply for financial support without unnecessary hurdles.

Through this initiative, the government aims to empower the youth, encourage entrepreneurship, and contribute to a stronger, more vibrant economy.