On submission of the Cabinet Memorandum by the President as the Minister of National Integration and Reconciliation, the Cabinet of Ministers has approved the Project last week and expected to be formally launched towards the end of March 2017.
The project is designed to be implemented in Northern and Eastern Provinces, which have been affected the most due to the conflict and in need of an Entrepreneurship life cycle to reap the benefits of untapped economic potential.
In this context, the Enterprise Based Village Development project (EBVDP) is specifically identified as a priority for uplifting the living standards of conflict affected entrepreneurs including women headed households, war widows and unemployed youth. The project would span across 113 villages in North and East, assisting to uplift their income generation activities, through 1,785 selected entrepreneurs. Total value of the project is Rs. 446 million which will consist of both credit and grant components.
The loan scheme with a Maximum value of individual loan as Rs. 250,000.00 is to be implemented through a state and a private bank. Out of the entire loan amount 25 per cent of the total estimated cost of each individual business plan will be borne by the ONUR as a grant and interest of the loan component will be met by ONUR on behalf of the beneficiaries.