KATHMANDU – The total capital of the Army Welfare Fund (AWF) has reached Rs 77 billion 610 million and 100 thousand. Of this amount, Rs 71 billion 56 million 100 thousand is deposited in various banks. The remaining amount of Rs 6 billion 554 million is invested in various entities under the AWF.
This information was shared in the Fourth Quarterly and Annual Progress Review of the Ministry of Defence today.
From the interest of the total amount, AWF has been providing education, health, skills and self-employment, and other facilities and concessions to around one million beneficiaries including the incumbent personnel, ex-army personnel, the entire rank and file and the dependents as well.
Works are on for timely expanding, upgrading and further making the programmes run under the AWF effective and profitable, it is said. The Army Welfare Fund was set up in 2032 BS from Rs 12 million 401 thousand that was received by the Nepali Army for participating in the UN peacekeeping force at the call of the United Nations.
The AWF having the motto of ‘Welfare of All: Happiness for All’ is operating various schemes as health, education, concessional loans, financial relief, insurance, skill development and self-employment programmes for the serving army personnel, the retired army personnel and their dependant families.
The main sources of income of the AWF are the amount received for participating in the UN peacekeeping force, the interest on the amount deposited in banks and financial institutions and the fees collected by the Nepali Army Academy of Medical Science, the Army School and Army College.
Six thousand and seventy-three Nepali peacekeepers including 565 women are deputed in 13 UN peacekeeping missions throughout the world at present.