Businesses hit by Covid-19 can apply for subsidised loan from Wednesday

Ministry of Finance
File: Ministry of Finance

Kathmandu, November 22

Businesses hardly hit by the Covid-19 crisis can apply for a subsidised loan scheme that the government recently announced beginning this Wednesday, informs the government.

A meeting of the committee formed to operate the Rs 50-billion fund made the decision on Friday to collect applications for the loan from this week. The committee is headed by Finance Secretary Shishir Kumar Dhungana.

Under this scheme, a company can get a loan up to Rs 100 million.

As per the decision, the central bank will direct commercial banks across the country to release loans as per the set procedure, according to the ministry’s spokesperson Rameshwar Dangal.

Earlier, a cabinet meeting held on November 12 had finalised the procedure to release loan. In its annual budget plan for this fiscal year, the government had announced a fund of Rs 50 billion to revitalise the country’s economy in the wake of the Covid-19 crisis.

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