JKEDI approves Rs 66.26 Cr for 2,178 unemployed youth

SRINAGAR: The Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) has disbursed more than Rs 66 crore to 2178 youth for establishment of micro enterprises in the state.
The money has been disbursed under Term Loan Scheme of National Minorities Development and Finance Corporation (NMDFC) being implemented by JKEDI since 2011. The youth trained by JKEDI under self employment component of Himayat scheme form a major number of the cases disbursed so far. After training the youth are provided financial linkage by the institute.
In the first two years of implementation of Himayat, JKEDI has trained 4046 candidates for entrepreneurship under the scheme, out of which 1746 candidates have been provided financial linkage under Term Loan scheme of National Minorities Development and Finance Corporation (NMDFC), New Delhi. An amount of Rs 46.26 crore has been sanctioned in favour of 1746 trained candidates (Himayat), out of which Rs 34.12 crore has been disbursed so far in favour of 1073 candidates from all parts of the State, enabling them to earn a dignified livelihood.
The trained candidates have been provided financial networking through Term Loan Scheme of NMDFC being implemented by the institute since 2011.
The remaining amount of more than Rs 32 crore has been disbursed by the institute directly under Term Loan Scheme of NMDFC to 1105 beneficiaries to set up their micro enterprises for dignified livelihood, since 2011 In addition an amount of Rs 2.70 crore has been disbursed among 86 beneficiaries under Educational Loan scheme of NMDFC also being implemented by JKEDI.
On Saturday the 25th Steering Committee of Term Loan Scheme of NMDFC for candidates trained under Self Employment Component of Himayat was held under the chairmanship of
Dr. M.I. Parray, Director, J&K Entrepreneurship Development Institute at Jammu.Dr. Majid Manzoor Khan Chief Programme Officer, JKEDI, Zahid Ali Dar, Executive Manager Finance, JKEDI, Jammu Member, Waseem Afzal Naik In-charge Himayat, JKEDI Jammu and sector experts were present in the meeting. DPRs of 236 enterprises involving 236 entrepreneurs were approved by the Steering Committee. All these cases involved total Project Cost of Rs.713.79 lakh including Term Loan of Rs. 263.75 lakh, Working Capital of Rs.527.80 lakh and Beneficiaries’ Contribution of Rs. 39.65 lakh.

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