"Startup loan assistance will be provided to 500 youths this year"

KATHMANDU, MARCH 20: Prime Minister KP Sharma Oli has announced that startup loan assistance will be provided to encourage youth entrepreneurship, with a plan to extend loans to at least 500 entrepreneurs this year.

While responding to queries from the parliament members during today’s session of the House of Representatives, he shared that the selection process for applicants interested in receiving loans at concessional interest rates—aimed at promoting creativity, innovation, and attracting investors to startup-based entrepreneurship—is now in its final stage.

He highlighted that the government recently hosted the National Labor and Employment Conference with the goal of expanding domestic production and productivity to create a sustainable foundation for internal employment.

The premier noted that as the world becomes more interconnected, citizens of even the most developed and wealthy nations are increasingly choosing to travel abroad for business, employment, and education, making international mobility a global trend.

“The idea that our youths are leaving the country should not be viewed solely in a negative light,” said PM Oli. “While going abroad is considered an achievement on a personal level, it has been negatively framed in social discourse. This dual perception has sent a negative message. In the past, there were limited livelihood options, but today, these opportunities have expanded."

"Our youth now have the chance to explore any corner of the world. However, we are not standing idly by; we are actively working to create opportunities for entrepreneurship and employment within our own country.”

He further emphasized that various policy and legal reforms, along with the introduction of business-friendly laws, have been implemented to improve the industrial investment environment,  encourage domestic investment, attract foreign capital, boost production and productivity, create jobs, and reduce the trade deficit through better import management and export promotion.