Staff Reporter

The programme will be implemented in select clusters

The project is expected to be operational

from March 2010

COIMBATORE: Coimbatore is one of the regions identified for the Commonwealth-Youth Enterprise Financial Scheme. Ram Venuprasad, Adviser, (Enterprise Development), Special Advisory Services Division of the Commonwealth Secretariat told presspersons here on Monday that the scheme was a pilot project for inclusive banking.

This would be implemented in association with the Central Bank of India.

The pilot programme would be implemented in select clusters in West Bengal, Orissa and Rajasthan, apart from Coimbatore.

Youth, from marginalised sections and aged between 19 and 29, who came out with projects to start an enterprise, would be selected based on merit, Mr. Venuprasad said.

“Those who present a plausible case will be selected,” he said. The identified candidates would be given end-to-end support, including project preparation.

A maximum of 50 projects, of micro or small-scale, were expected from each centre. They would receive assistance at a discounted rate of interest.

The project was expected to be operational from March 2010. And, the project period was likely to be till December 2011.

The Commonwealth Secretariat would give technical inputs and assistance to the selected candidates. The scheme would work within certain parameters.

“The focus is on youth enterprise development,” he said.

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