February 7: Everest Bank Limited has entered into an agreement with Deposit and Credit Guarantee Fund for the credit guarantee of various subsidized loan as per the guidelines of the central bank.

Everest Bank said it has taken a step towards financial stability and economic growth of the nation by enhancing the lending capacity of micro, small and medium enterprises (MSMEs).

Keshab Raj Paudel, assistant general manager of Everest Bank, and Usha Paudel, acting deputy CEO of Deposit and Credit Guarantee Fund signed the agreement on behalf of their respective organisations amid a function on February 5.

With this agreement, Everest Bank said it is now open for subsidized loans under the following categories:

• Professional Agriculture and Livestock Loan: up to Rs 50 million
• Educated Youth Self Employment Loan: up to Rs 700,000
• Youth Project for Foreign return Loan: up to Rs 1 million
• Women Entrepreneurs Loan: up to Rs 500,000
• Business Development Loan for Lower cast community: up to Rs 1 million
• Higher , Technical and Professional Education Loan: up to Rs  500,000
• Personal Housing Loan for Earthquake Victims: up to Rs 300,000