KATHMANDU: The government has decided to bring the scheme of concessional commercial loan in order to revive businesses affected by the COVID-19 pandemic.
The concessional commercial loan would be provided to the small and cottage industries and firms so that they would revive the business and pay compensations to the workers in the wake of crisis.
Minister for Communications and Information Technology Parbat Gurung shared information to this regard at a press conference on Friday. Even a work procedure for the scheme was passed by the Cabinet, Gurung shared.
The industries and enterprises would be divided into three categories on the basis of severity of damages they suffered and the concessional loan will be provided accordingly, minister Gurung added.
The government has also decided to accept the grant of around Rs 18 billion to be provided by the World Bank for urban governance reform and infrastructure projects.
The cabinet meeting also decided to appoint Uddhav Prasad Timilsina as the Chairman of High Powered Bagmati Civilizatrion Integrated Development Committee and deport foreigners living illegally in the country.
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