KATHMANDU: Prabhu Bank has launched ‘Sahyatra Samridhi loan scheme.

The scheme has been launched targeting small entrepreneurs and entrepreneurs affected by the coronavirus, self-employed entrepreneurs, educated unemployed youth, unemployed youth returning from abroad, entrepreneurs engaged in traditional professions, and businesses.

The scheme has been introduced under the Unified Procedure 2075 BS on Interest Subsidy for Concessional Loans of Nepal Rastra Bank, the bank said in a statement.

Ashok Sherchan, Chief Executive Officer of the bank, said that the scheme was launched to provide relief to the youths who are facing difficulties in running their daily life due to the impact of the coronavirus.

The loan scheme is to manage the existing financial difficulties and their plight, Sherchan said.

In the first phase, a loan of Rs 100,000 will be provided to women tempo drivers and Rs 400,000 to school teachers.