Government of KP disperses loans under the youth empowerment program
PESHAWAR: The Ehsaas Naujawan Programme, a government initiative, is empowering the provincial youth of Khyber Pakhtunkhwa by providing interest-free loans to fuel entrepreneurial endeavors and secure dignified employment.
Masterminded by Chief Minister Ali Amin Khan Gandapur and led by Provincial Minister Syed Fakhar Jehan, this ambitious program is a collaborative effort between the Directorate of Youth Affairs, Khyber Pakhtunkhwa, the Bank of Khyber, and the Akhuwat Foundation.
The objective of this mega scheme is to economically empower the young population by encouraging self-employment and entrepreneurship. These loans are instrumental in reducing youth unemployment and fostering new business ventures.
The Bank of Khyber has already disbursed loans amounting to PKR 220 million since the program's inception, approving 145 loans for sustainable, income-generating businesses.
Key Aspects of Ehsaas Naujawan Programme
- Target Demographic: Aged 18-35, children of Khyber Pakhtunkhwa seek opportunities to develop skills, gain experience, and make a mark in both the job market and civil society.
- Mission: The program aims to provide financial aid, vocational training, and practical experience, enabling young entrepreneurs to start businesses and become an integral part of society.
- Loan Assistance: Access to soft, interest-free loans is key to achieving the program's goal of eradicating unemployment and nourishing new business projects.
- Partners: Bank of Khyber and Akhuwat Foundation work in unison to disburse these interest-free loans.
Implementation Strategies
- Youth Engagement: The Directorate of Youth Affairs, Khyber Pakhtunkhwa, spearheads outreach efforts, facilitating training sessions and creating avenues for skill development and practical experience.
- Financial Inclusion: Loans cater to underserved groups such as madrassa graduates and young people from disadvantaged backgrounds.
- Celebrating Success: The program has garnered widespread praise for its impact on transforming ambitious ideas into flourishing businesses, as showcased in media and official channels.
Loan Disbursement Details
| Institution | Loan Type | Maximum Loan Amount | Target Demographic ||------------------------|-------------------|---------------------|---------------------------|| Bank of Khyber | Interest-free | PKR 5 million | Aged 18-35, madrassa graduates || Akhuwat Foundation | Interest-free | Undisclosed | Underserved communities |
Bank of Khyber
- Offers interest-free loans up to PKR 5 million to individuals aged 18-35, including madrassa graduates.
Akhuwat Foundation
- Renowned for its interest-free microfinance approach, though the specific loan caps under Ehsaas Naujawan remain undisclosed in current sources. Akhuwat generally provides small, interest-free loans to uplift marginalized communities.
Conclusion
Cultivating a supportive environment for youth entrepreneurship and employment, the Ehsaas Naujawan Programme in Khyber Pakhtunkhwa offers interest-free loans up to PKR 5 million through the Bank of Khyber. Akhuwat Foundation is also a partner, focused on offering interest-free microfinance while specific loan amounts for Ehsaas Naujawan remain undisclosed in current sources. The initiative is led by the Directorate of Youth Affairs, which is instrumental in outreach and implementation.
The Ehsaas Naujawan Programme, with its emphasis on providing interest-free loans, aims to empower the youth of Khyber Pakhtunkhwa in their pursuit of entrepreneurial ventures and secure employment, thereby fostering economic growth and self-development. This program, a collaborative effort between the Bank of Khyber, Akhuwat Foundation, and the Directorate of Youth Affairs, also offers financial aid, vocational training, and practical experience to nurture enterprising minds and promote business success within education-and-self-development.
