Nepalis who have returned to Korea for employment under the EPS will be able to get cheap loans if they want to do entrepreneurship. The loans are being provided through the Agricultural Development Bank with the support of the Korean government agency KOICA.

The process has been taken forward for that and His Excellency Park Tae-young, Ambassador of the Republic of Korea to Nepal, has requested Finance Minister Rameshwor Khanal to provide the necessary facilitation.  

The ambassador made the request during a meeting between Finance Minister Khanal and Ambassador of the Republic of Korea to Nepal, Park Tae-young, at the Ministry of Finance today (Monday).  ‘The Ambassador said that under the EPS system, we are providing concessional loans through the Agricultural Development Bank with the support of KOICA to promote entrepreneurship of Nepali citizens who have returned to Korea for employment to start new businesses,’ the Ambassador said. ‘The process has been taken forward and the Government of Nepal had to facilitate it.’

During the meeting, Finance Minister Khanal discussed the bilateral diplomatic relations between Korea and Nepal and expressed gratitude for the continuous support provided by the Korean government. Stating that the status of the projects and programs implemented with the support of Korea is satisfactory, he said that the economic partnership with Korea will continue.

During the meeting, the Ambassador expressed happiness over the 30th anniversary of the establishment of bilateral relations between the Korean government’s agency KOICA and the Nepal government and the coordination and cooperation that Nepal has done with Korea and KOICA during that period. He mentioned the need to provide necessary facilitation to encourage Korean investors to invest in Nepal and promote Nepali products.