Bangladesh Bank Announces Collateral-Free Loans for Youth Entrepreneurs

Bangladesh Bank has officially announced a new nationwide financing programme aimed at supporting young entrepreneurs across the country. Under this newly declared initiative, the central bank will provide both loans and grants without requiring any collateral, specifically targeting aspiring business owners at the grassroots level in every upazila.

According to the official announcement made on Thursday, the implementation of this collateral-free loan programme will begin in phases. In its initial stage, the central bank has invited applications from a total of 64 upazilas situated across eight specific administrative districts of Bangladesh.

The residents of the designated 64 upazilas in the first phase will be able to formally submit their applications starting from September 17. The eight selected districts for this opening phase comprise Manikganj, Feni, Naogaon, Jhenaidah, Bhola, Habiganj, Rangpur, and Netrokona, ensuring broad geographic representation.

To qualify for financial backing under this specific Bangladesh Bank scheme, applicants must meet precise age and eligibility criteria. The designated age limit for interested participants has been strictly set between 18 and 28 years old, focusing heavily on empowering the younger demographic of the country.

Successful applicants participating in the scheme will be eligible to receive substantial financial support. Based on their actual business requirements and project proposals, qualifying entrepreneurs can secure maximum funding of up to 20 lakh taka (Tk 2 million) in financing and grants.

Arif Hossain Khan and other relevant officials are associated with the overarching administration of the central bank's initiatives. Through this targeted scheme, the central bank aims to foster new economic growth and self-reliance among the youth across every rural and semi-urban upazila of Bangladesh.