BYTT calls for 35-yr age limit in Bangladesh Bank’s loan scheme

The Bangladesh Youth Think Tank (BYTT) has urged policymakers to raise the maximum age limit from 28 to 35 years for Bangladesh Bank’s recently launched loan and grant programme, “UDYOG”, saying the existing limit excludes a large section of the country’s unemployed youth.

The organisation made the demand at a press conference held at the Dhaka University Journalists’ Association (DUJA) office on Thursday.

BYTT President Imtiaz Ahmed, Vice President Umme Hani Prithwi, Chief Coordinator AKM Ahsan Habib Nafi, directors Kazi Saddam Hossain and Mahbub, Nasrin Akter and other members of the organisation attended the press conference.

Speakers at the event welcomed the state initiative to transform grassroots youth from job seekers into job creators. However, they said limiting eligibility to those aged up to 28 would leave out a significant number of unemployed young people who could benefit from financial support to start businesses.

They called for the eligibility range to be extended to 18-35 years, arguing that such a change would allow a broader section of the country’s young workforce to access loans and grants under the programme.

Highlighting the socioeconomic realities of Bangladesh, Ahsan Habib Nafi said, "Many young people spend years preparing for and seeking government and private-sector jobs, often reaching their late 20s or early 30s before giving up on their job search. At the same time many lack the capital needed to start a business or other income-generating venture."

The speakers argued that extending loan and grant facilities to this group could help create new entrepreneurs and reduce unemployment.

Citing international research on entrepreneurship, they said studies associated with Harvard Business Review and MIT have found that entrepreneurs in their 30s can demonstrate strong business performance and venture longevity compared with younger entrepreneurs.

They referred to youth enterprise financing programmes in Kenya and South Africa, where eligibility extends to the age of 35, and said Indian startup policies place greater emphasis on the viability of business ideas rather than imposing rigid age restrictions.

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In a written statement, BYTT General Secretary Shaikh Rifad Mahmud said the National Youth Policy 2017 defines youth as people aged between 18 and 35.

He questioned the rationale behind setting the age limit at 28 under the UDYOG programme and called on the authorities to align the scheme with the national definition of youth.

He also urged the authorities to extend financial support to young people who have faced difficulties entering the job market in recent years because of changing political and socioeconomic circumstances.

The BYTT leaders said broadening the eligibility criteria would enable more young people to turn their entrepreneurial ideas into businesses and contribute to employment generation and economic activity.