Nepal Rastra Bank has announced a new policy that aims to support industries creating jobs for women and those affected by unusual situations.
Loan at lower interest for industries hiring women
Any industry that employs at least 100 women and runs export-based production will now get loans at a cheaper rate. Banks and financial institutions can charge only up to 1 percent above their base rate for such loans.
Special help for businesses hit by disruptions
Businesses and workers affected by sudden events, such as the recent Gen-Z protests, can also apply for loans at minimal cost. In this case, banks can add only 0.50 percent above their base rate. These loans will be available for up to one year or until the business restarts, whichever is shorter. For six months, the government itself will cover 2 percent of the interest. Employers must apply before mid-January to qualify.
Replacement loans for damaged vehicles
If transport vehicles used by businesses were damaged during the protests, companies can get loans covering up to 80 percent of their value for replacements.
Relief for trade disruptions at border points
Businesses affected by natural disasters at Rasuwagadhi and Tatopani customs points can also request loan restructuring. Banks will review their cases and reschedule payments if needed. However, restructured loans will remain in the same classification category as before.
