Kathmandu. The government has decided to give loans at 1 percent interest to those with new business plans. The government is planning to bring such a program to help those who are unable to operate such projects due to lack of capital despite having a business plan with new thinking.

Since the loan will be given on the security of the project itself, there is no need to keep the security as collateral for such loan given by the government. The program is to bring loans at 1 percent interest targeting the youth who want to run a business with new thinking.

Spokesperson of the Ministry of Finance, Mahesh Acharya, informed that the procedure for giving loans to new promoters at 1 percent interest on the basis of business plan has reached the final stage.

The government has set up a fund of Rs 1 billion. It is sought to provide loan from the same fund. Spokesperson Acharya did not want to disclose how much money will be provided to the same business plan and for how long. He said that all issues will be clarified after the procedure is made public.