An amount of Rs 7.8 billion has so far been disbursed among 8,230 beneficiaries under the Prime Minister Youth Business Loan Programme. Under this scheme, subsidised loans up to Rs 2 million at six percent mark up rate are being offered to the unemployed youth, especially the educated ones. Sources said that last year the balloting was made to speed up the processing and disbursement of loans to the potential entrepreneurs.
Over 200,000 people have also benefited from Prime Minister's interest free loan scheme over the last two years, the sources said.
The sources said this micro finance facility is aimed at helping the poorest of the poor in less privileged areas of the country. 'Prime Minister's Youth Business Loans' are being disbursed among unemployed youth, especially educated youth looking for establishing or extending business enterprises. It may be added that the government has also started Prime Minister's Youth Training Scheme under which masters degree-holders have been given internships for one year at public and private organisations. About 50,000 interns were selected for the first year. Out of these, 43,000 have been placed in different departments while the placement of remaining interns is in process.
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