Bangladesh Bank (BB) is set to launch a special loan scheme called Udyog from September 16 to help create a new generation of entrepreneurs.
Under the Tk 10 billion loan scheme, the banking regulator aims to finance young entrepreneurs aged below 28, in line with the government's election manifesto to create 10 million jobs across the country.
Sharing the developments at a press conference on Thursday, the central bank's spokesperson, Arief Hossain Khan, said the programme would initially be launched in all upazilas of eight districts, representing the country's eight divisions.
Later, the special financing programme will be expanded to all upazilas across the country.
Under the scheme, a young entrepreneur will be eligible for loans of up to Tk 1.0 million (Tk 10 lakh). Selected borrowers will also receive a grant equivalent to the loan amount after repaying their loans.
He said the main objective of the scheme is to create a vibrant pipeline of young entrepreneurs in the country.
