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Nepal Rastra Bank Governor Mahaprasad Adhikari has said that a special program will be introduced in monetary policy to connect the youth with production and enterprise. He said that a special program will be introduced targeting the youth to show the way of possibilities in the agricultural sector in the country.
In a program organized on the occasion of the 23rd foundation day of Sana Kisan Vikas Laguvitt Financial Institution, the governor officer stated that only if the youth can be connected with production and enterprise, the country's economy will improve and the increasing migration abroad will be stopped.
They are trying to develop the comment that there is nothing in the country, nothing happens and nothing is possible, that is not true. Although the country is full of potential, the youth has been forced to migrate abroad due to the inability to improve some small things, he said, adding that the monetary policy of the National Bank emphasizes youth, women, agriculture, enterprise and entrepreneurship.
The governor official said that there is no truth about the misuse of the interest subsidy provided in commercial agricultural loans. He said that while analyzing the subsidies given on the interest rate of agricultural loans so far, there was no abuse as it was criticized, and due to the abuse by some people, the recovery process has been taken forward.
According to the plan of the government, the Ministry of Finance has prepared the procedures related to the interest subsidy provided to the youth in commercial agricultural loans and the governor's officer claims that the subsidy has been distributed according to the procedure. He said that till now 1 lakh 26 thousand borrowers have received subsidy in agricultural loans and most of the beneficiaries of such subsidy are women and small farmers. He said that small farmer development microfinance and small farmer cooperatives played an important role for entrepreneurship development and job creation and for expanding financial access and literacy.
Although problems have been seen in the cooperative sector recently, officials say that such problems have not occurred in small farmer cooperatives. "The society that looked down on agricultural work in the past has now come to respect it," he said. The former governor of Nepal Rastra Bank, Dipendra Bahadur Chhetri, said that the real beneficiaries could not get government service facilities and subsidies. "Subsidies given in agricultural loans are being taken by the poor rather than the actual beneficiaries on the basis of access," he said.
The Chief Executive Officer of Small Farmer Development Microfinance, Shivram Prasad Koirala, said that the organization has played an important role in the development of youth entrepreneurship and expansion of inclusive financial access through simple lending. He said that more than 79 percent of those who received loans from small farmers are women and the service of small farmers has reached 550 local levels across the country.
