Kavrepalanchok. Bethanchok Rural Municipality has decided to provide a five percent subsidy on loan interest to commercial farmers. For this, the rural municipality has also signed an agreement with a cooperative organization.
The rural municipality has signed an agreement with the district-based Bindhabasini Savings and Loan Cooperative Organization to provide interest subsidy to farmers for operating agricultural businesses. The agreement signed by the officials of the rural municipality and the cooperative states that the rural municipality will provide a concessional interest subsidy loan of a maximum loan amount of Rs. 2 million per household for a minimum period of six months to a maximum of five years to develop entrepreneurship and make local residents professional from the current fiscal year 2081/82, and the cooperative will invest the concessional interest subsidy loan. For this program, the rural municipality will provide a five percent interest subsidy and business individuals and families will have to pay only four percent interest.
The rural municipality has stated that the program is being operated in accordance with the Procedure for Interest Subsidy-2080 for providing commercial loans to local agricultural entrepreneurs. The rural municipality has stated that it has started a campaign to make the ruined land fertile and commercial after the flood and landslide disaster by including the youth and farmers included in the policy and program in this program.
The rural municipality chairman Bhagwan Adhikari said that since most of the citizens here are involved in agriculture, the rural municipality is being introduced as a self-reliant local level in the field of agriculture. It is believed that this program will help local farmers become entrepreneurship and commercial farmers.
Similarly, the rural municipality has started an interest subsidy program under the Kavrepalanchok model program to reduce the attraction of foreign employment and target youth who have returned from foreign employment. As per the approved procedure to provide interest subsidy on commercial loans to citizens aged 21 to 45 years to become entrepreneurs, the rural municipality had selected a financial institution to collaborate in providing concessional loans.
It is stated that a two-year concessional loan will be available for agricultural businesses, spice crops and seed production and processing and storage recognized by the Government of Nepal. Similarly, vegetable production processing and storage, seed production and storage, floriculture, fruit production-processing and storage, dairy product processing-sale and distribution will be selected.
Similarly, animal slaughterhouse and meat production management, herbal production-processing and storage, sugarcane, millet, corn, cardamom, black pepper, ginger, tea cultivation processing-storage and sale and distribution, beekeeping, barley, fenugreek, sorghum, beans, potatoes, lemons and apples production, storage and sale and distribution, vegetable crop production, processing, storage and agricultural production and collection and sale and distribution will be provided with subsidies on concessional loans for up to one year.
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