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Youth and Small Entrepreneur Self-Employment Fund to Create Self-employment for 12,000 Unemployed Youth

Career 27 Mar 2021 315 0

Youth and Small Entrepreneur Self-Employment Fund

Youth and Small Entrepreneur Self-Employment Fund to Create Self-employment for 12,000 Unemployed Youth:

The Youth and Small Entrepreneur Self-Employment Fund is going to create self-employment for 12,000 unemployed youth. The fund has started to create self-employment through five new programs targeting these youths in the current fiscal year. The fund provides loans at a concessional rate of Rs. 200,000 to the youths who have not been able to become self-employed due to lack of funds.

Dr. Kalyan Roka, Executive Vice President of the Fund, said that the fund has started the self-employment of 12,000 youths by conducting five new programs such as Cooperation Based Partnership Program, Koshi Economic Corridor Program, Bheri-Karnali Economic Corridor Program, Kathmandu Valley Self-Employment Program, and Terai-Madhesh Self-Employment Program.

He said that the self-employment-oriented program will be launched soon by providing loans to the youth as monitoring is being carried out for the operation of these programs. The fund will provide Rs. 200,000 at 3.2 percent interest to these youths to run their business based on their skills, abilities, and knowledge.

The fund will make the youth self-employed by collaborating with the local level. The fund, which has taken loans at 3.5 percent interest from the local level, will provide loans at 3.2 percent interest at the rate of Rs 200,000 to make the unemployed youth self-employed at the same local level.

"The more loans we take from the local level, the more we invest in the youth there," he said.

The fund will provide loans at the rate of Rs. 200,000 to the youth through banks, financial institutions, and cooperatives at the local level. At present, the fund has invited proposals from the local level for cooperation. Nara Bahadur Saud, the program coordinator of the partnership program, informed that 12 local levels have submitted proposals for partnership. This year, a target has been set to make 5,000 youths at the local level self-employed.

The fund is also preparing to run the Koshi Economic Corridor program targeting the youth of 17 districts connected to the Koshi River and its tributaries. The program has been targeted at about 2,500 youths from Sindhupanchok, Kavre, Sindhuli, Ramechhap, Dolakha, Okhaldhunga, Solukhumbu, Khotang, Udaipur, Saptari, Bhojpur, Sankhuwasabha, Dhankuta, Terhathum, Panchthar, Taplejung, and Sunsari districts.

The youths of the districts affected by the Saptakoshai River and its tributaries are engaged in fishing, local poultry farming, pigeon rearing, goat rearing, homestay, rafting business, potato farming, cherry farming, bag farming, tomato, ginger farming, cauliflower business, turmeric business, and cattle breeding will be provided.

Narayan Dutta Devkota, executive director of the fund, said that financial institutions are being monitored to provide loans to the youth.

The fund will also provide loans for business purposes to the youth of 17 districts along the Bheri and Karnali rivers. Two thousand youths from Humla, Jumla, Mugu, Achham, Dolpa, Kalikot, Dailekh, Surkhet, Jajarkota, Achham, Doti, Bajhang, Bajura, Salyan, Rukum (both west and east), Kailali, and Bardiya are engaged in vegetable farming, animal husbandry, poultry, Fapar / It has started a program to create self-employment by disbursing loans for Kauno farming, fisheries, Ratachamal, fruit farming, homestay/hotel, rafting and running local businesses.

The fund will provide loans for selling food in carts targeting unemployed youth in Kathmandu Valley. It is preparing to provide a loan at the rate of Rs 200,000 to the unemployed youth of Kathmandu, Lalitpur, and Bhaktapur for selling food, vegetables, fruits, and dairy food in front of the chowk, park, and shopping mall.

Devkota, executive director of the fund, said that monitoring was being carried out to disburse loans to the youth and the program would be launched soon. "Despite their skills and abilities, some young people have not been able to run a business for even a small amount of money," he said.

Through this program, the fund will create self-employment for the youth of 21 districts of the Terai by investing in bioflock technology in technological fisheries in Bhakari. Youths from Kanchanpur, Kailali, Banke, Bardiya, Dang, Kapilvastu, Nawalparasi, Rupandehi, Chitwan, Bachara, Parsa, Rautahat, Sarlahi, Mahottari, Dhanusha, Siraha, Saptari, Sunsari, Morang, Jhapa and Udaipur are engaged in fishing, autorickshaw Loans will be provided for the operation of vegetable, spicy, fast food shops and buffalo breeding.

The proposal for the loan will have to be submitted according to the format prepared by the fund. After the proposal is approved by the fund, the youth will get the loan on the basis of financial institutions and cooperatives that have cooperated with the fund. One person will get a loan at the rate of Rs 200,000 at an annual interest rate of 3.2 percent. With this loan, they will be able to run a business according to their skills and abilities.

The fund was established in 2065 BS to provide capital in the country and discourage the productive and skilled youth of the country from migrating abroad due to lack of capital and work. The fund has so far made 78,000 youths self-employed.

The fund has been conducting the program to make the available manpower in the country financially capable and to create a situation where they can easily, access and mobilize resources in the self-employment program to make them feel a sense of belonging and ownership.