Refinance worth Rs 66 billion approved in three months

Khabarhub

December 4, 2020

2 MIN READ

Refinance worth Rs 66 billion approved in three months

Building of the Nepal Rastra Bank. (File photo)

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KATHMANDU: The Nepal Rastra Bank (NRB) has approved refinancing worth Rs 65.69 billion in three months aimed at providing respite to the COVID-19-affected industries and enterprises.

According to the NRB, the banks and financial institutions had called for applications for refinancing facility and demand was made for Rs 69.4 billion as of mid-October but Rs 50 billion was approved.

Likewise, for the refinancing to be provided on the basis of the customer’s evaluation, Rs 55.25 billion was demanded while approval was made for Rs 15.62 billion.

Governor of the Nepal Rastra Bank Mahaprasad Adhikari said that provincial balance was maintained while providing subsided loans and it was made sure that the targeted area and communities benefited from the refinancing facility.

Governor Adhikari shared that from remote districts like Taplegunj, Baitadi, Darchula to relatively lesser remote districts and municipalities and rural municipalities in those districts were incorporated for the refinance scheme.

Furthermore, the central bank in the country was finding out which local level units did not request for refinancing, according to the Governor.

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