The provincial government has stated that the Udaya Project is being implemented targeting young entrepreneurs in the province through the innovation program.
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The 'Udaya Project' has been launched in Koshi Province targeting young entrepreneurs. The project was launched in Itahari on Thursday in the presence of Chief Minister Hikmat Kumar Karki. The provincial government has stated that the Udaya Project is being implemented targeting young entrepreneurs in the province through the innovation program. The Koshi Province government has selected Rastriya Banijya Bank and Nepal Global IME Bank to invest in this project. Small and medium-sized young industrialists will easily get loans from these banks at a concessional interest rate of Rs 3 million to Rs 30 million. For this, the provincial government is preparing to invest about Rs 8 billion in loans from two partner banks through the project. With the support of the Swiss government, investment is being made through the project for those who want to start new small and medium enterprises. After this agreement, the Swiss government will provide Rs 30 million and the provincial government will provide Rs 30 million, making a 'guarantee fund' of Rs 60 million. Similarly, a 'Challenging Fund' will also be set up with the support of Rs 140 million from the provincial government and Rs 140 million from the Swiss government. The bank will disburse loans through this process without taking collateral if it deems necessary. In some cases, even if the person who comes through this project provides less collateral than the bank wants, if the project is good, the main feature of this project is that it can be invested under the government's guarantee, said Ramesh Ghimire, head of the Deposit and Credit Guarantee Fund.
The project will provide necessary facilitation and support to entrepreneurs coming through this project to get loans. The government is confident that about Rs 8 billion will be disbursed for the establishment of small and medium industries in Koshi Province under this project, which will contribute to the economic prosperity of Koshi Province.
At the agreement signing ceremony, Chief Minister of Koshi Province Karki said that by developing national capital, it will also make a significant contribution to the country's gross domestic product. Chief Minister Karki also urged young people to benefit from this project that is being launched after the tireless efforts and efforts of the Koshi Province government.
He said that this project will also help entrepreneurs who invest in new areas by conducting new research in municipalities and wards and studying its feasibility. At the program, Minister for Economic Affairs and Planning Bidur Kumar Lingthep said that this will greatly contribute to the economic prosperity and development of Koshi Province. At the program, Chief Executive Officer (CEO) of Rastriya Banijya Bank Devendra Raman Khanal and Global IME Bank CEO Shailendra Regmi expressed their happiness at being able to collaborate with the province government on the project and expressed confidence that the project will reach the target group.
