Govt to provide 50 pc investment to agri businesses run by youths

Kathmandu, August 17

The Ministry of Agriculture and Livestock Development (MoALD) is preparing to provide 50 per cent of investment cost to youths who are willing to start agricultural businesses. The plan is being developed under the ministry’s ‘Agriculture for Youth’ project.

Aiming to attract youth in the agricultural sector, MoALD had designed the project this fiscal year. Currently, a team formed by the ministry is working on setting the framework for the project. The preliminary draft of the project framework has mentioned that MoALD will provide 50 per cent investment cost to the business owner.

The grant amount will be distributed by the Agricultural Development Bank in two instalments.

The government has allocated Rs 500 million for the ‘Agriculture for Youth’ project for this fiscal. The five-year programme will benefit 500 youths in 22 districts from all seven provinces. As per the ministry, the framework will be completed by August-end and as soon as it is endorsed by the Cabinet, MoALD will call for applications.

The age limit for applicants for this project has been set at 18 to 45 years. As mentioned in the draft of the framework, interested applicants can apply for the project at local governments or the office of Prime Minister Agriculture Modernisation Project.

The framework has also mentioned that youths who are already involved in the agriculture business and those youths who have returned from abroad will be prioritised for this project. Especially those youths who have returned from Dubai, Israel, Malaysia and Qatar will be given more priority for this project. Similarly, youths who are preparing to go abroad for employment will also benefit from this project as the project will provide skill-based training to them.

The project will include agriculture businesses related to fish, livestock farming, dairy, fruits and vegetables along with agriculture processing centres. The youths will be given training based on their interest and sent to related agricultural farms, zones and superzones for practical knowledge. Under the programme, the ministry will provide agriculture education, training and a platform for the youths to start their agriculture business.