NRBC bank to offer up to 10 lakh loans for skilled young

NRB Commercial (NRBC) Bank Ltd is going to offer a maximum of TK10 lakh collateral-free loans for young entrepreneurs, who are skilled under the department of youth development of the government.

In this regard, the department of youth development on Tuesday signed a memorandum of understanding (MoU) with NRBC Bank to accelerate the entrepreneurial environment of the country through this lending facility.

NRBC bank will offer loans to the youth at least 50 thousand every year, and the maximum loan size will be TK10 lakh per person. The lending rate for this loan will be 4 to 9 percent at the consumer level. 

According to the Bank officials, women entrepreneurs, the transgender, and persons with disability will get priority for this lending. Based on the types of lending the customer will enjoy the facility from three months to five years. For the repayment, the customer will also enjoy a grace period of 6 months. 

On the occasion, addressing as chief guest Zahid Ahsan Russel, state minister for youth and sports said, the government has a clear plan to develop a healthy entrepreneurial culture in the country. And it's true that this development will not come to the light without the power of youth.

So, the central bank and the scheduled banks concerned may take initiative to reduce the lending rates for such young entrepreneurs, to stimulate them not to get a job rather inspire them in the employment creation.  

The state minister said, as a leading ministry we have so many constraints, and we are capable of facilitating the lending of only 15% of our trained youth under the ministry. So, we need strong cooperation from the banking side.

 Chairman of NRBC bank Parvez Tamal said, "we are more focusing on small lending and most of our branches are at the Upazila and Union level. And now the maximum lending size is Tk10 lakh, but we want to increase the loan size, based on the demand and situations."

"NRBC bank has a plan of setting one-stop service at the premises of all youth development academies, to facilitate speedy lending to these young, skilled, and aspiring entrepreneurs. And to attract new investment and lending, we have a plan of a roadshow also."   

Senior secretary of the ministry of youth and sports Md. Akhter Hossain said we feel a lack of coordination among banks and the ministry. But without having strong coordination among stakeholders we will not be able to ensure lending to all trained youth of the country for their starting as an entrepreneur.    

Directorate General of the department of youth development Azharul Islam Khan said we all are looking forward to strengthening the capacity of the youth so far. Such a good move will help the skilled and needy youth for a better career as an entrepreneur.