The government has taken a significant step to support the growth of new businesses through its startup enterprise loan program. For the fiscal year 2024/25, it allocated one billion rupees for this initiative. Project proposals were invited between August 27 and September 16, 2024, and the Industrial Enterprise Development Foundation, operating under the Ministry of Industry, Commerce, and Supplies, received a total of 5,158 submissions.
The foundation is currently in the process of reviewing these proposals and preparing an initial list of applicants for selection. This is being carried out in accordance with the Startup Enterprise Loan Operation Procedure, 2081. Introduced in the previous fiscal year, the startup loan program demonstrates the government’s commitment to fostering entrepreneurship and driving economic growth.