PM Oli announces NPR 1bn rupees for youth start-ups

Kathmandu, August 24 - Prime Minister KP Sharma Oli has announced that the government will support youth-led start-ups and innovation.

Speaking at a youth conclave in Kathmandu on Saturday, he revealed that a budget of 1 billion rupees has been allocated this year to provide loans for start-ups. He encouraged young entrepreneurs to present strong business plans.

Oli mentioned that over 10,000 start-ups are expected to launch this year in partnership with the private sector. He also noted that loans will be available against educational certificates as mortgages, with a focus on agricultural enterprises and small industries.

Loans for women and youth will be offered at a 4 percent interest rate under the educational certificate mortgage provision. Prime Minister Oli emphasized that youth development and empowerment are crucial for the country’s progress.