Development banks to provide soft loan to small and middle-scale enterprises

The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and Development Bankers' Association Nepal on Sunday signed a memorandum of understanding (MoU) to facilitate the flow of services including concessional loans to micro, small, and cottage industries.

FNCCI Vice-President Dinesh Shrestha and Chairperson of Development Bankers' Association Nepal Govinda Prasad Dhakal signed the deal in presence of FNCCI President Shekhar Golchha, Senior Vice-President Chandra Prasad Dhakal, Vice-President Anjan Shrestha, and Vice-Chairperson of Association Pradyman Pokharel.

As per the understanding, the member development banks of the Association would facilitate to provide loans as per the demand of micro, small, and cottage industries and medium-sized enterprises.

Similarly, it would be facilitated to develop the capacity to choose and use financial services as well as to impart knowledge and skills to prepare plan for future risk.

On the occasion, FNCCI Vice-President Shrestha expressed the belief that this initiative would help address the challenges faced by the small and middle-sized enterprises, especially in loan access.

Chairperson of Association Dhakal shared that the understanding was signed with an objective of felicitating in flow of services including financial loan for the protection and development of small and cottage industries as well as small and middle-scale enterprises.