Shillong : A momentous day in Meghalaya’s history unfolded as the Chief Minister of Meghalaya, Conrad K. Sangma, officially inaugurated the much-anticipated CM-ELEVATE PROGRAM at the Vivanta, Shillong. This transformative initiative sets the stage for empowerment, entrepreneurship, and economic development in the state, promising a brighter future for Meghalaya’s youth.

Distinguished personalities graced the launch ceremony to pledge their support to this flagship initiative. Conrad K. Sangma, the Chief Minister of Meghalaya graced the event as the Chief Guest.

Launching the CM-ELEVATE PROGRAM, Conrad K. Sangma aimed at engaging, employing, and empowering the youth of Meghalaya through entrepreneurship, which he believed serves as a holistic solution for fulfilling the business needs. He said, “We aim to create entrepreneurship opportunities for over 20,000 individuals across various sectors over the next three years.

This initiative comes with a substantial investment of approximately 300 crores.” Speaking about the partnerships that the Government has established with both public and private sector banks to facilitate easy access to credit for the aspiring entrepreneurs, the Chief Minister stated that financial support ranging from 35 to 75 percent of the project cost to mitigate credit risks can be offered.

He said, “To minimize risks and barriers, we extend upfront financial aid to entrepreneurs and have collaborated with banks for financing. The program offers term loans covering up to 95% of the project cost, with varying loan terms (ranging from 5 to 15 years) and moratorium periods (between 3 to 18 months), coupled with variable interest rates across different schemes.

We have created three lakh jobs in the private sector in the last five years, and I am sure the number will increase in the coming years. I have always held the belief that the government’s role should be limited to formulating policies, fostering a conducive ecosystem, and providing essential facilities to support entrepreneurs. This is just the beginning, and as we progress, we will refine and adapt our approach, allocating additional funds as necessary.”

The CM-ELEVATE PROGRAM is a comprehensive solution tailored to the diverse business needs of Meghalaya’s citizens. Notably, the program features a user-friendly single-window portal for applications, ensuring a seamless experience for aspiring entrepreneurs.

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