Kathmandu, 20 November: The government has issued the Business Continuity Loan Disbursement Procedures, 2020, in its bid to provide loans in an effective manner for the payment of salary of workers and employees of Covid-19 affected cottage, small and medium scale industries as well as those of the tourism business and for the continued operation of businesses.
The Ministry stated today that provisions would be made for the required amount would be made at the Nepal Rastra Bank in order for the government to disburse loans for continuity of business by providing concessional loans as per the Procedures endorsed by the Council of Ministers and proposed by the Ministry of Finance.
The government shall open the business operation continuity loan disbursement compensation account of Rs 50 billion at the NRB’s banking office and to be run by NRB. Money made available by the government, the amount to be deposited by corporations fully or partially owned by the government at the coordination of the Ministry and the amount acquired as per the agreement done by the government with foreign organisations would be deposited in this account, according to a press release issued by the Ministry of Finance.
People’s News Monitoring Service
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