Bangladesh Bank’s 'Udyog' program, designed to foster young entrepreneurs and generate employment, applications for the upcoming second phase will open on November 1, allowing young entrepreneurs from the remaining 56 districts to apply.

The first received 18,444 applications across 64 upazilas in eight districts during the first phase of its 'Udyog' program, designed to foster young entrepreneurs and generate employment.

According to preliminary data released by the central bank, Netrokona district recorded the highest number of submissions in the first phase with 5,351 applications, followed by Rangpur with 2,745.

Submissions from other districts include 2,456 in Naogaon, 2,191 in Jhenaidah, 1,552 in Habiganj, 1,545 in Bhola, 1,343 in Manikganj, and 1,261 in Feni.

The central bank launched the initial phase to identify promising young entrepreneurs at the grassroots level and establish financing opportunities for their business ventures. Applications were collected between September 16 and October 15 through scheduled bank branches across all upazilas of the designated eight districts.

In the upcoming phase, young entrepreneurs from the country's remaining 56 districts can submit applications from November 1 to November 30. Submissions can be made at any scheduled bank branch within the respective upazilas.

Applicants must complete a prescribed form, which is available on the official websites of Bangladesh Bank, its SME portal, and participating scheduled banks.

Bangladesh Bank earlier issued the policy guidelines for the 'Udyog' program on September 13. The initiative aims to contribute to national economic development by cultivating youth entrepreneurship, creating new job opportunities, and encouraging innovative ventures. The central bank has sought the cooperation of all relevant stakeholders to ensure the successful implementation of the program.