State Government Makes Provision To Disburse Agricultural Loan At One Percent Interest
January 10, 2021 | Investopaper
The Far-Western Provincial Government has made a provision to provide loan at one percent interest to the farmers who want to engage in commercial agriculture and animal husbandry business. For this, the Ministry of Land Management, Agriculture and Cooperatives of the state has made a provision to provide subsidy on the interest of the loan taken by the farmers through the Agriculture Development Bank.
An agreement was reached between the ministry and the Far Western Provincial Office of the Agriculture Development Bank on Friday in the presence of Chief Minister Trilochan Bhatt and Minister for Land Management, Agriculture and Cooperatives Binita Devi Chaudhary. On the occasion, Chief Minister Bhatta expressed his commitment to provide additional budget for the implementation of the program.
For the effective implementation of the program, a monitoring committee comprising representatives of the ministry and the bank will be formed, facilitation will be provided for easy availability of loans, and the ministry will provide necessary assistance to the bank to recover the loan in case of any problem.
Senior Agriculture Extension Officer at the Ministry, Gokul Prasad Bohara, said that a maximum of Rs 5 million loan can be disbursed to each farmer, farmer group and entrepreneur.
