Aiming to foster young entrepreneurs and generate employment, a total of 18,444 applications have been submitted across 64 upazilas of eight districts in the first phase of Bangladesh Bank's 'Udyog' (Initiative) program.
From November 1, young entrepreneurs in the remaining 56 districts will get the opportunity to apply for this scheme.
According to preliminary data from Bangladesh Bank, Netrokona district recorded the highest number of applicants in the first phase, with 5,351 applications. Rangpur stood second with 2,745 submissions.
Additionally, 2,456 applications were submitted in Naogaon, 2,191 in Jhenaidah, 1,552 in Habiganj, 1,545 in Bhola, 1,343 in Manikganj, and 1,261 in Feni.
The central bank stated that the first phase of the program was launched to identify promising young entrepreneurs at the grassroots level and facilitate access to financing to realize their business initiatives.
During this initial phase, applications were accepted through branches of scheduled banks across all upazilas of the eight designated districts from September 16 to October 15.
In the upcoming phase, young entrepreneurs from the remaining 56 districts of the country can apply from November 1 to November 30.
Applications can be submitted at any branch of scheduled banks within their respective upazilas.
To apply, candidates must fill out a prescribed form. The form will be available on the Bangladesh Bank website, the SME portal, and the websites of scheduled banks.
Earlier on September 13, Bangladesh Bank issued the guidelines for the 'Udyog' program.
The program aims to contribute to the country's economic development by developing youth into entrepreneurs, creating new job opportunities, and encouraging innovative initiatives.
The central bank has also sought cooperation from all relevant stakeholders for the implementation of this initiative.