Recovery fund of Rs 100 billion on cards- Governor Dr Nepal

Chitwan / April 8: Nepal Rastra Bank (NRB) Governor Chiranjivi Nepal has said the government is coming up with a recovery fund of Rs 100 billion.

At the annual general meeting of banana farmers at Ratnanagar of Chitwan on Thursday, he said the fund is to be in place to provide with subsidized loan to the victims of earthquake and other disasters.

Governor Dr Nepal shared that the fund will be brought in partnership between the government, private sector and donor agencies. The work procedure for the same is being formulated, he added.

He noted that the fund will offer 4 per cent subsidized loan to an entrepreneur having investment below Rs 100 million for business recovery. He also informed that budget amount of Rs 21 billion is being released for the diversification and development of agriculture.

Outstanding banana farmers were honoured at the programme presided over by Banana Producers Association Chitwan Chairperson Bishnu Hari Pant. The AGM called for the government support for the development of banana farming in the country. RSS