The initiative, first introduced under the 2025 Budget with a Rs. 500 million allocation, aims to create 50,000 new entrepreneurs within five years by providing financial support and guidance to young people. Cabinet approval for the original scheme was granted on August 18, 2025.
Under the expanded programme, loans will be disbursed through People's Bank, Bank of Ceylon, and Regional Development Bank at a concessional interest rate of four percent per annum.
The Minister of Agriculture, Livestock, Lands and Irrigation presented the Cabinet with the implementation plan and guidelines for the scheme, which were subsequently approved.
Officials say the programme is expected to stimulate economic activity in agriculture and industry while empowering young entrepreneurs to establish sustainable businesses across the country.
