Kathmandu [Nepal], August 15 – The Nepali government has introduced concessional loans of up to Rs 5 million for families of those killed and people injured in the Gen Z movement to help them start self-employment ventures.
The Ministry of Finance introduced the provision through the Interest Subsidy on Concessional Loans (Second Amendment) Procedure, 2083 expanding the existing concessional loan framework.
Under the amended procedure eligible families and injured participants of the Gen Z movement can receive loans of up to Rs 5 million for businesses and income-generating activities. Their status must be officially verified by the Nepal government or an authority designated under existing law.
The procedure defines a martyr’s family as the spouse, son, daughter, father or mother of a person who died during the movement.
The concessional loans can be used to establish or operate agricultural and livestock businesses, cottage and small industries, service businesses, information technology-based enterprises, tourism ventures, manufacturing industries and start-ups. Other productive and employment-generating businesses designated by the government from time to time will also be eligible.
The Ministry said the amendment was made under the authority granted by the Economic Procedures and Financial Responsibility Act, 2019.
The expanded loan programme is aimed at helping families affected by the Gen Z movement and injured participants become financially independent through self-employment and entrepreneurship.
