KATHMANDU, June 12:Nepal Airlines Corporation(NAC) signed a Rs 12-billion -loan -agreement with state-owned lender Employees Provident Fund (EPF) on Sunday to buy two wide-body airplanes.
As stipulated in the loan agreement, NAC will pay interest to EPF at the annual rate of 9 percent.
Related story
Fonepay partners with EPF to facilitate digital loan payments
The loan it will take from EFF is just half of the total loan it needs to purchase two wide body airplanes. It has a plan to borrow Rs. 6 billion from Citizen Investment Trust (CIT).
“ We signed an agreement on loan amounting to Rs 12 billon with EPF on the condition that NAC shall pay interest to EPF at the annual rate of 9 percent “, said Corporate Director and Spokesperson of NAC Rabindra Shrestha.
