Loans at five percent for industries affected by COVID-19

28, May 2020 |

Government to provide loans at five percent to the cottage and small industries affected by COVID-19


The government will provide loans at five per cent interest rate for cottage and small industries affected by COVID-19.

Presenting budget estimates for the fiscal year 2020/21 at the joint meeting of the federal parliament on Thursday, the finance minister shared that a separate fund worth Rs 50 billion has been set up for operating trade and paying salaries to workers and employees of the tourism sector and cottage and small industries. To be operated by Nepal Rastra Bank amounts to be deposited in the fund come from government and public corporations under the government and donor agencies.

Likewise, the relief programmes launched by the government to prevent and control the infection and ease the difficult life of the people caused by it will continue.

Funds have been managed to distribute food items in relief to those workers affected by the infection who are not associated with any food programmes and employment programmes launched in cooperation with the federal, state and local levels, he said.



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