Bangladesh Bank launches Udyog scheme for young entrepreneurs

The Bangladesh Bank has announced the opening of applications for the Udyog programme, designed to provide startup financing to young entrepreneurs. Under the initiative, eligible applicants can access loans of up to Tk 2 million to establish new business ventures across various sectors of the economy.

The scheme targets young people seeking to launch their own enterprises and create employment opportunities. The move reflects the central bank's commitment to supporting youth-driven economic activities and reducing unemployment in the country.

Prospective entrepreneurs meeting the eligibility criteria are invited to submit applications through designated channels. The Udyog initiative is expected to facilitate business formation by providing accessible financing and support to first-time borrowers with viable business plans.

Detailed information regarding application procedures, eligibility requirements, and terms of the loan assistance can be obtained from Bangladesh Bank offices and authorized participating institutions. The scheme represents a significant step in channelling credit toward productive entrepreneurial activities among the country's young population.