Half of the amount will be appropriated from the Sino-American Fund for Economic and Social Development, while the other half will be jointly provided by the Bank of Taiwan, Taiwan Business Bank and Taiwan Cooperative Bank, the officials said.

Through the loans, the government aims to help 1,500 young entrepreneurs start their own businesses and create 5,900 job opportunities this year, they said.

Under a similar program in 2006, 2,078 young entrepreneurs were granted a total of NT$1.72 billion in business start-up loans, according to the CEPD.

Among last year’s loan recipients, 92.1 percent were in the service sector, 7.8 percent were in the industrial sector, and 0.1 percent set were in the agricultural sector, the CEPD tallies show.

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