The information was revealed at a press conference of Bangladesh Bank on Thursday. The interest or profit rate on loans will be a maximum of 4 to 5 percent, and no collateral will be required.

Applicants must be at most 28 years old and residents of the concerned upazila. Prior business experience is not mandatory; however, they must have a realistic business idea. All legal ventures, including agriculture, food processing, fisheries, livestock, handicrafts, tourism, services and technology, will be considered.

Detailed instructions for the programme will be issued on September 16, and applications will be accepted for one month thereafter. Initially, the programme will begin in 64 upazilas of eight districts. A total of 640 entrepreneurs — 10 from each upazila — will be selected.

Along with financing, selected entrepreneurs will also receive training, mentor advice, business planning, registration and market linkage facilities. There is a plan to gradually expand the programme to other upazilas across the country.