Experts call for youth entrepreneurs's easy access to bank loans

Experts and Civil Society Organisations (CSOs) have emphasised that youth entrepreneurs should be able to access bank loans easily and without hassle.

They stated that banking services for youth entrepreneurs need to be simplified, and that every upazila and ward requires a centrally managed micro-loan system.

On Saturday, a national-level post-networking event organised by the British High Commission Dhaka and implemented by The Earth was held at Gulshan Lakeshore in Dhaka.

Through this event, young people were able to share their success stories and experiences following the conclusion of two training batches.

Maj Gen (retd) AKM Muzahid Uddin, Chairman of The Earth, said: "The government as well as the private sector need to do more to promote young researchers, innovators and entrepreneurs in Bangladesh. In our country, it is seen that young entrepreneurs do not get much priority when it comes to taking loans from banks, but there have also been cases of loan defaulters disappearing with crores of taka. We are working with young entrepreneurs. Everyone needs to come forward in this way."

More than 60 people, including government officials, development organisations, private sector representatives, media and members of various organisations, participated in the event.

Also present were M A Akher, Director and Joint Secretary of the Department of Youth Development; Sharmin Pradhan, Joint Director of Bangladesh Bank; Shahnaz Rahman, Deputy Director (Air Quality Management) of the Department of Environment; Md Ashiqul Islam, Consultant of the ICT Division of Bangladesh Computer Council; and others.

Sharmin Pradhan said: "We have a separate department to work with such entrepreneurs. If entrepreneurs apply there with details about their project, they can get a loan from there at a very low interest rate. Since the process is a bit complicated, if you apply and follow everything, you will get a loan."

Shahnaz Rahman said: "We are taking action against industrial pollution and area-based polluters. We need everyone's cooperation to build a sustainable city or country."

Young people from the six youth-led projects participating in the event shared their experiences and journeys of their successful initiatives implemented after the training. The discussion highlighted the importance of youth innovation, technological contributions, economic and policy opportunities, and environmental campaigns in the media in addressing climate change.

The lively discussion provided future directions for youth on financial and policy support, innovative activities, sustainable development, and their active participation in climate action.

In addition, young people from For the Light, Greenergy, Coastal Greens, Sugar Cycle, Recyclo Play, and Prossash projects showcased their innovative products and activities at the event. The exhibition also highlighted how they have successfully implemented these initiatives with the support of training and seed funding from The Earth's Eco Leaders Project.