KATHMANDU, Nov 24: The Korea International Cooperation Agency (KOICA) has committed USD 2.5 million (around Rs 320 million) as an interest subsidy to support entrepreneurship among Nepali migrants returning from South Korea, KOICA said in a press release.
According to the press release, under the “Increased Access to Financial Support for Korea Returnee Migrants” program, implemented by KOICA in partnership with Agricultural Development Bank Limited (ADBL), eligible returnees can access subsidized loans for up to five years. ADBL will contribute approximately Rs 1.2 billion as loan capital, with loans averaging Rs 5 million each. The program is expected to assist 200–250 returnees between 2026 and 2028.
Revised interest rate corridor system introduced
KOICA Country Director Mooheon Kong highlighted that the initiative reflects a shared commitment to empowering returnee migrants, helping them reintegrate with dignity while creating employment opportunities and supporting the local economy, the press release further stated.
Likewise, Joint Secretary Krishna Prasad Sapkota of the Ministry of Labor, Employment and Social Security emphasized Nepal and South Korea’s long-standing cooperation, particularly through the Employment Permit System, which has benefited thousands of Nepali workers. Joint Secretary Dhani Ram Sharma described KOICA’s support as effective and meaningful.
ADBL CEO Govinda Gurung stated that the program provides returnee migrants with a crucial opportunity to establish their own enterprises and expressed the bank’s commitment to executing it successfully, the press release said.
