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Budget : Loans at 5 percent interest rate for industries affected by COVID-19

Avatar eAdarsha.com Reporter
May 28, 2020

Kathmandu, May 28: The government is to 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, Finance minister Yuvraj Khatiwada  shared that a separate fund worth Rs 50 billion has been set up for operating trade and paying salaries to workers and employees of 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 difficult life of the people caused by it will continue.

Funds have been managed to distribute one-fourths of 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.