CPN-M may waive of small farmers’ loan

Biratnagar, August 14:

The CPN-Maoist has been doing groundwork to waive of small farmers’ loan.

The party had been pressuring small farmers, who had taken loan from the Agriculture Development Bank during the decade-long conflict, not to repay the loan.

CPN-Maoist Morang in-charge Shiva Kumar Mandal said, “We are doing groundwork to waive of small farmers’ loan.”

The Maoist-led government would waive loan worth Rs 5,000 to 100,000, which was taken before signing of the Comprehensive Peace Accord, he added.

The ADB Regional Office, Biratnagar, 46,000 small farmers of the Koshi zone are yet to repay loan amounting to Rs 1.5 billion due to pressure from the CPN-M. The small farmers have not even paid interest, it said.

The ADB has failed to collect Rs 3.81 billion from small and big borrowers in the zone alone. This year, the bank invested Rs 340 million and collected Rs 2.98 billion deposit and Rs 710 million in interest.