Bagmati Province to provide Rs 3 billion subsidised loan


Bagmati Province is set to provide loan at subsidised interest for employment creation as well as production activities in the province.

The Bagmati Province Cabinet meeting held today passed the procedures for providing loan meant for programmes related to agriculture, industry and the trade sector.

Minister of Financial Affairs and Planning Kailash Dhungel said that the government would allocate Rs 3 billion in subsidised loan to the poor and marginalised communities and would be targeting the sectors in accordance with the recommendation of local levels. The province government expects jobs and businesses to increase as a result of the subsidised loan that will be sanctioned through the Agricultural Development Bank.

“The loan will revive domestic and cottage industries, agriculture and tourism sectors that have been affected by the COVID-19 pandemic, create jobs for the unemployed youths, help in the management of garbage, and promote entrepreneurship,” said Minister Dhungel.

A version of this article appears in e-paper on September 24, 2020, of The Himalayan Times.