The Khyber Pakhtunkhwa (KPK) government has launched the Ehsaas Nojawan Program to support young entrepreneurs by offering interest-free, collateral-free loans for business ventures. Spearheaded by Chief Minister Ali Amin Gandapur, this initiative aims to remove financial barriers for the youth, encouraging economic growth and job creation across the province.
Loan Distribution Details
The Ehsaas Nojawan Program offers two types of loans based on the business size:
| Loan Type | Loan Amount Range | Provider |
|---|---|---|
| Small Business Loans | PKR 100,000 to PKR 500,000 | Akhuwat Islamic Microfinance |
| Large Business Loans | PKR 1 million to PKR 5 million | Bank of Khyber |
These loans are provided without any interest or collateral requirements, enabling young people from various economic backgrounds to pursue their entrepreneurial dreams.
Key Features
- Interest-Free: No interest charges, reducing financial burden.
- Collateral-Free: No assets needed as security, opening doors for underprivileged youth.
- Flexible Repayment Terms: Up to eight years for Bank of Khyber loans and 36 to 60 months for Akhuwat loans, allowing ample time to establish a business before repayment begins.
Application Process
For Small Business Loans (Akhuwat Islamic Microfinance)
- Visit Akhuwat Branch: Locate the nearest Akhuwat branch.
- Complete Application Form: Fill in the required details accurately.
- Submit Documents: Provide identity, residency proof, and a business plan.
- Application Review: Akhuwat reviews the application and disburses funds upon approval.
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For Large Business Loans (Bank of Khyber)
- Online Application: Go to the Bank of Khyber’s Ehsaas Nojawan Portal.
- Fill Out the Online Form: Submit detailed and accurate information.
- Upload Documents: Attach CNIC, business plan, and proof of residence.
- Processing and Approval: The Bank of Khyber reviews applications and disburses funds directly to the approved account.
Equitable Allocation Across KPK
The Ehsaas Nojawan Program ensures fair loan distribution across all districts in KPK based on population. This proportional allocation provides youth in both urban and remote areas with equal opportunities to secure funding and support local entrepreneurship.
Impact of the Ehsaas Nojawan Program
The Ehsaas Nojawan Program is set to create transformative socio-economic impacts across KPK:
- Youth Empowerment: By offering financial support, the program encourages young people to become financially independent.
- Economic Development: New businesses contribute to local economies, fostering regional growth.
- Job Creation: Supporting new enterprises helps generate employment opportunities, contributing to overall economic stability.
Conclusion
The Ehsaas Nojawan Program represents a significant step towards empowering the youth of KPK. With its interest-free loans, no collateral requirement, and equitable distribution, this program is bridging the financial gap for young entrepreneurs. If you’re a young resident of KPK with a business vision, now is the perfect time to apply.
Visit an Akhuwat branch for small business loans or apply online through the Bank of Khyber for larger ventures. The Ehsaas Nojawan Program is here to help you build a brighter future for yourself and your community.
