National Food Bank established with investment of Rs 2 billion

Published On: April 15, 2021 05:36 PM NPT By: RSS

KATHMANDU, April 15: The Office of the National Food Bank was inaugurated at New Baneshwar in the capital on Thursday. The food bank was established a few months ago under the slogan 'Sustainable Agriculture for Nutrient-Rich Food' in order to give priority to organic production. 

Chairperson of the bank, Shankarnath Upreti said that the bank has been established with the objective of promoting organic production by reducing dependency on agriculture. 

The bank has been established with an investment of Rs 2 billion and it has 590 promoter share members so far. Preparations have been made to increase the number of promoter share members to 1,000.

Upreti further said that the bank has been making preparations to issue IPO for the general public soon by fulfilling all the required criteria. 

He shared, "We facilitate the production of and carry out trade in rice, wheat, maize, vegetables and fruits through the bank. We will increase the production by collaborating with the farmers."

The bank has made preparations to begin activities of agriculture production in 23 districts in the first phase within the current fiscal year. Six hundred bighas of land in different districts of Tarai have been taken on lease for the same.

The bank has already started production in 13 districts including Kailali, Kanchanpur, Bardiya, Jhapa, Morang, Sunsari, Chitwan and Rupandehi by taking land on lease. 

Reducing dependency on agriculture, increasing agricultural production, creating employment and addressing the issue of public health by laying emphasis on organic production are some of the objectives behind establishing the bank.



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