News Summary
Reviewed.
- The government has selected 966 new proposals nationwide for startup loans in the current fiscal year 2082/83.
- The Industrial Enterprise Development Institute has informed the selected entrepreneurs to contact the designated bank branch within three days with necessary documents.
- The government has allocated a budget of 730 million NPR to provide loans at an interest rate of 3 percent.
July 1, Kathmandu – The government has selected 966 applicants from across the country for startup loans in the current fiscal year 2082/83.
On Tuesday, the Industrial Enterprise Development Institute announced the names of applicants recommended to receive the loans and notified them to contact the assigned bank branch within three days.
According to the Institute, since the program is conducted annually, project proposals and recommended amounts automatically become inactive after the end of Ashad (mid-June), prompting this call to secure loans.
Selected applicants have been instructed to visit the designated bank branch with necessary documents to obtain the loan. Required documents include the original business registration and renewal certificates, PAN/VAT registration certificate, original entrepreneur citizenship certificate, tax clearance certificate for fiscal year 2081/82, and a passport-sized photo of the authorized person. It is also noted that individuals who have previously received concessional loans but have not repaid them will not be eligible for further loans.
Earlier, the Institute published a preliminary list of 1,298 eligible projects for loans. From this list, additional details, photos, and videos were collected for presentation. A total of 1,156 project applicants participated in the presentation before the final selection by the Institute.
Among the selected proposals, activities related to agriculture and livestock predominate. For the current fiscal year, the government has allocated a budget of NPR 730 million to provide loans at a 3 percent interest rate.
