Army loan for former, incumbent personnel at low interest rate

KAVRE: The Nepali Army has pledged to provide loan to its incumbent and former personnel, whose houses were fully destroyed in the April 25 quake, at low interest rates.

Inaugurating the conference of Ex-Army Personnel at Khadgadal Gan in Dhulikhel of Kavre, Chief of Army Staff Gaurb Shumsher Rana on Wednesday said that NA had decided to provide loan at 4.5 per cent interest to incumbent and former army personnel.

Rana hailed the service that army personnel had rendered to the people and country after the tremor struck the country.

He informed that NA had also prepared a micro-finance project to improve the life standard of ex-army personnel and single women. Rana said that NA had around Rs 34 billion in its Welfare Fund.

Rana distributed Rs 50,000 each to the ten families of army personnel, who lost their homes in the earthquake.

The country has around 65,000 ex-army personnel.