Govt provides loan of Rs 1 billion to COVID-19 affected businesses

Published On: October 26, 2021 01:45 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Oct 26: The government has provided Rs 1 billion loan to tourism and domestic industry workers affected by COVID-19 pandemic till the second month of the current fiscal year.

According to Nepal Rastra Bank, the loan amount has been provided under ‘Business Continuity Loan Disbursement Procedures, 2020’. The government has made special arrangements to provide relief to tourism, domestic, small and medium enterprises hard hit by the pandemic.

Similarly, special relief has been provided to the pandemic affected areas even in the fiscal year 2020/21 and the current fiscal year. The bank has also made special policy arrangements in favor of business and enterprise in the monetary policy of the last fiscal year and the current fiscal year.

As per the details released by the bank for the second month of the current fiscal year on Monday, a loan of Rs 1 billion has been sanctioned for the payment of wages to the workers and employees of the COVID-19 affected tourism and domestic, small and medium enterprises.

Similarly, the refinancing provided by the central bank at concessional rates has reached Rs. 118.85 billion in mid-September. A total of 120,715 businesses have availed concessional loans till now.

A total of 51,272 borrowers have benefited under agriculture and livestock business loans. They have taken loans of Rs 121.06 billion. Similarly, 66, 690 women entrepreneurs have benefited under the Women Entrepreneur Loan in which Rs 62.37 billion has been utilized. The central bank has stated that 2,753 borrowers have benefited under other headings of concessional loans.

Leave A Comment