KATHMANDU, Oct 28: It has been found that the loans taken by the farmers of Nepal for agriculture purposes have been reduced by 10 percent.
In the last 10 years, the total debt of farmers who have invested in agriculture by taking loans from cooperatives and banks has decreased by 10 percent.
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According to the agriculture census data released last month, 483,000 farming families have taken loans for agriculture in 2021. This is 12 percent of the total number of agricultural families.
In the year 2011, the number of families of farmers to take loans under this title was 836,000. Which was 22 percent of the total number of farmers.
According to the details, the method of taking loans by farmers has also changed. By the year 2011, 35 percent of the total farmer loan came from relatives. However, by the year 2021, 39 percent of the loans obtained by farmers were from cooperatives.
According to these statistics, approximately 1,415,000 farmers who had taken loans expressed the need for additional financial assistance, which accounts for 34 percent of all farming families. Moreover, the data highlights a considerable demand for loans among groups of farmers engaged in animal husbandry.
