Nepal, June 22 -- With traditional jobs shrinking and youth migration rising, entrepreneurship offers new hopes for Nepal. In light of this, the Government of Nepal has launched the Startup Enterprise Loan Programme to support start-ups with collateral-free loans of up to Rs2.5 million at 3 percent interest.

Envisioned in 2015 and finally implemented in FY 2023-24, startups received over Rs190 million. This fiscal year (2081-82), the government allocated Rs1 billion and was matched with an overwhelming response from over 5,000 applicants: 661 startups secured the loans, which is a nearly 300 percent rise. On paper, the government's push to foster entrepreneurship is commendable. Yet deeper challenges lie beneath this encouraging surge. ...