An agreement has been reached between the Municipality and Global IME Bank to provide interest subsidy to the farmers of Diktel Rupakot Majhuwagadhi Municipality.
An agreement was reached on Tuesday between Mayor Tirtharaj Bhattarai and Branch Manager of Global IME Bank, Biplav Kafle, to provide subsidies to farmers within the municipal area from the budget of the financial year 2081/82.
Agricultural development branch head Tejprakash Jaisi said that five percent interest subsidy will be provided for loans up to a maximum of five lakh rupees to young entrepreneurs who are willing to work professionally in the agricultural and animal husbandry sectors of the city.
Farmers who take loans will get interest subsidy of 5 percent until the loan is repaid. According to Jaisi, a farmer who takes a loan from the bank has to repay the loan within five years. "Young entrepreneurs willing to work professionally in the agriculture and animal husbandry sector will be provided with a five percent interest subsidy on a maximum loan of five lakhs," Jaisi said. Based on that, Jaisi said, the bank has provided loans.
For the current financial year 2081/82, the municipality has allocated a budget of 450,000 for the interest subsidy program. "In the current financial year, 450,000 has been allocated," Jaisi said, "The budget is allocated every year." "The allocated 450,000 will reach the loan interest of around 20 million," Kafle said.
