By Our Correspondent
Solukhumbu, Jan. 29: The Solu Dudhkunda Municipality and Rastriya Banijya Bank (RBB) have signed an agreement to provide concessional loans to the locals.
This is the first concessional loan agreement signed by a commercial bank in six districts of the former Sagarmatha Zone.
Mayor of Solu Dudhkunda Municipality Namgel Jangbu Sherpa, Chief Administrative Officer Krishna Prasad Chapagain, Rishabh Bhattarai, Chief of Rastriya Banijya Bank's Regional Office, Biratnagar and Chitra Bahadur Khadka, Manager of Solukhumbu Branch jointly signed the agreement on behalf of their respective institutions.
Mayor Sherpa said that the people of the municipality would get loan at a concessional interest rate after an agreement was reached between the municipality and RBB for the same.
The RBB is going to provide loan at maximum interest rate of 2.74 per cent under the integrated concessional loan programme on the initiative of the municipality.
He informed that the facility was being provided to the citizens of the municipality as the government had made concessional loans for various programmes -- commercial agriculture and livestock, educated youth self-employment, youth returning from abroad, women entrepreneurs, Dalit community business development, higher and technical and vocational education and construction of private houses to the earthquake victims.
Mayor Sherpa expressed confidence that it would help the unemployed, especially those in remote areas and who want to start an enterprise, adding that loans would be made available at cheaper interest rates than that provided by private banks.
Earlier, the bank had signed agreements with Belbari, Shivsattakshi and Khandwari municipalities of Morang and Sankhuwasabha districts to provide concessional loans under Province-1 scheme, said Bhattarai, chief of RBB’s provincial office in Biratnagar.
He said that the bank would start providing loans to needy as per the agreement soon.
Chitra Kumar Khadka, Manager of Salleri branch of the bank, said that the bank would provide loan up to Rs. 1.5 million at 1.74 per cent interest for women entrepreneurs and at 2.74 per cent for men.
As per the agreement, the bank will provide loan up to that amount without collateral on the security of the local municipality. In addition, there is a provision of compulsory insurance for loan amount.
The bank has stated that if a loan of more than Rs. 1.5 million is required, collateral is needed.