ADB to Provide Subsidized Loan to Gandaki Province

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ADB to Provide Subsidized Loan to Gandaki Province

February 22: The Agriculture Development Bank is set to provide subsidized loan to Gandaki Province without any collateral.

According to Rastriya Samachar Samiti (RSS), a memorandum of understanding to this effect was signed between the Ministry of Land Management, Agriculture and Cooperative of Gandaki Province and the Pokhara-based regional office of Agriculture Development Bank on Thursday, February 21.

The MoU states that the ADB would provide subsidized loan in the areas of agriculture and livestock without any collateral upon the recommendation of the ministry. The state-run news agency, however, did not mention the loan amount that the multinational bank would be providing.

Secretary at the ministry, Sharad Chandra Shrestha, and the regional director of ADB, Chet Narayan Sapkota, signed the MoU.

RSS reported that the MoU was signed to help promote commercialization of agriculture sector and thereby increase production.

 

 

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