Government to Provide Startup Loans to 500 Youth Entrepreneurs: PM Oli

Prime Minister KP Sharma Oli announced that the government plans to provide startup loan assistance to at least 500 young entrepreneurs this year to promote youth entrepreneurship in Nepal.

Addressing a question-and-answer session in the House of Representatives today, PM Oli stated that the selection process for loan recipients is in its final phase. The program aims to offer loans at subsidized interest rates, encouraging investment in startup ventures that drive creativity and innovation.

The Prime Minister highlighted that the government recently organized a National Labour and Employment Conference to create a sustainable foundation for domestic employment by enhancing production and productivity. He noted that the increasing trend of Nepali youths seeking opportunities abroad for business, employment, and education aligns with global patterns observed in developed countries.

“Migration for work or study should not be viewed entirely as a negative phenomenon,” said PM Oli. “In the past, there were limited options for livelihoods, but now our youth have broader choices and can explore opportunities worldwide.”

Despite the global trend of migration, PM Oli emphasized the government’s commitment to generating employment and entrepreneurial opportunities within Nepal. He outlined ongoing efforts to create a more investment-friendly environment through policy reforms, legal amendments, and business-friendly legislation.

The government aims to attract foreign investment, encourage internal investment, boost production, and reduce the trade deficit by promoting exports. The startup loan initiative is part of a broader strategy to support young innovators and curb the need for youth to seek opportunities abroad.

By fostering a culture of entrepreneurship, the government hopes to empower young Nepalis to contribute to the country’s economic growth and development.