Eastern RDB disburses over Rs 3b loan

Rastriya Samachar Samiti

Itahari, April 28

The eastern regional Rural Development Bank (RDB) has disbursed collateral-free loans to the tune of Rs 2.77 billion to the targeted groups as part of its policy of disbursing loans to certain targeted sectors under the poverty alleviation programme.

Out of the total loans disbursed, the bank has so far disbursed loans totalling Rs 369.8 million to 50,337 women creditors from 259 Village Development Committees (VDCs) in Jhapa, Morang, Sunsari, Siraha, Saptari, Udayapur, Ilam and Dhankuta districts of eastern Nepal, informed the executive director of the bank Deepak Sharma.

The bank has invested 50 per cent of its total loans in agro-business, 48 per cent in service sector and two per cent in small and cottage industries. More than 302,000 people have directly or indirectly benefited from the poverty alleviation program of the bank, which has a 96 per cent of loan recovery rate. Similarly, 50,337 women creditors have paid back the loans to the bank.