19 billion spent on concessional loan interest subsidy in four years

21 October, Kathmandu. The Government of Nepal has spent about 19 billion rupees only on subsidized interest on subsidized loans.

According to the budget statement, the Council of Ministers decided to give 5 to 6 percent interest subsidy on seven types of loans from 2075.

Accordingly, Nepal Rastra Bank approved and implemented the Integrated Process 2075 for Subsidized Loan Interest Subsidy. Later, it was revised and provided for concessional lending under 10 different heads.

According to Nepal Rastra Bank, it has spent 18 billion 86 crore 97 lakh 89 thousand rupees till July 2079 for this subsidized loan.

As per the process, till July 2079, 2 lakh 57 billion 77 billion 36 lakh 29 thousand loans have been sanctioned to 1 lakh 47 thousand 23 borrowers.

According to the National Bank of India, an investment of Rs 2 lakh crore 13 billion 66 crore 43 lakh 57 is outstanding.

Source: OnlineKhabar

Himal Sanchar