BoK, TEVTA sign MoU on provision of interest-free loans to youth

PESHAWAR: A Memorandum of Understanding (MoU) was signed between the Bank of Khyber and Technical Education and Vocational Training Authority (TEVTA) regarding provision of interest-free loans to youth under the Ehsaas Hunar Program.

Special Assistant to the Chief Minister Khyber Pakhtunkhwa for Technical Education Tufail Anjum was chief guest of the signing ceremony.

Secretary Industry Aamir Afaq, Managing Director Khyber Bank, Managing Director TEVTA and other officials were also present on the occasion.

This project will be implemented through the Bank of Khyber. More than Rs 3 billion has been allocated for this project, while Rs 200 million has been kept for 2024-25 this year.

Under the project, these loans will be given to about 35,000 skilled youth of the province. Under the project, each skilled youth will be given an interest-free loan of up to Rs 500,000, which will be spread over 36 instalments, meaning that the repayment of this loan will be completed in 36 months.

Similarly, skilled people who are residents of Khyber Pakhtunkhwa and are between the ages of 18 and 40 and have a skill certificate or diploma will be able to benefit from this project.

On the occasion of the MoU, Special Assistant for Technical Education Tufail Anjum said that the provincial government has formally launched the Ehsaas Hunar Program. Our aim is to provide employment opportunities to the youth of the province.

Copyright Business Recorder, 2025