Development banks to provide low-interest loans to small and medium-sized enterprises
KATMANDU: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Nepal Development Bankers Association signed a memorandum of understanding on Sunday with the aim of facilitating the flow of services, including concessional loans to micro , small and small industries.
FNCCI Vice President Dinesh Shrestha and Nepal Development Bankers Association President Govinda Prasad Dhakal signed the agreement in the presence of FNCCI President Shekhar Golchha, Senior Vice President Chandra Prasad Dhakal, vice-president Anjan Shrestha and vice-president of the Pradyman Pokharel Association.
According to the agreement, the development banks members of the Association would facilitate the provision of loans according to the demand of micro, small and small cottage industries and medium-sized enterprises. Likewise, it would be facilitated to develop the ability to choose and use financial services as well as impart knowledge and skills to prepare a plan for future risks.
On this occasion, the vice-president of the FNCCI Shrestha expressed the conviction that this initiative would make it possible to meet the challenges faced by small and medium-sized enterprises, in particular in terms of access to credit.
Association President Dhakal said the agreement was signed with the aim of promoting the flow of services, including financial loans for the protection and development of small and medium enterprises as well as small and medium enterprises.