KATHMANDU: The government has introduced a provision to provide concessional loans of up to Rs 5 million to families of those killed and individuals injured in the Gen-Z movement to support self-employment and business ventures.
The Ministry of Finance issued the Concessional Loan Interest Subsidy (Second Amendment) Procedure on Friday, introducing the new provision.
The ministry said the procedure was amended under the authority granted by Section 65(4) of the Financial Procedures and Fiscal Responsibility Act.
The amended procedure has introduced a separate concessional loan scheme targeting families of Gen-Z movement martyrs and those injured during the movement. Under the provision, eligible beneficiaries can receive loans of up to Rs 5 million.
The beneficiaries must have their status as a martyr’s family member or an injured person certified by the Government of Nepal or an agency designated under prevailing law.
The procedure defines a family member of a Gen-Z movement martyr as the deceased’s husband, wife, son, daughter, father or mother.
The concessional loans can be used to operate agricultural and livestock businesses, cottage and small industries, service businesses, information technology-based enterprises, tourism businesses, manufacturing industries and startup ventures.
The loans may also be provided for other productive and employment-generating businesses designated by the government from time to time.
The government said the expansion of the concessional loan scheme aims to strengthen families affected by the Gen-Z movement and injured individuals economically by supporting self-employment and entrepreneurship.
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