Startup loan distribution delayed as government stuck in inspection process
Summary
The government is delaying the distribution of subsidised startup loans due to a prolonged selection and inspection process, with the loans now expected to be disbursed by April amid delays caused by elections and coordination challenges.
Key Points
- The government is delayed in distributing subsidised startup loans due to ongoing document reviews and a new field inspection process.
- IEDI received 10,244 applications for startup loans by the deadline of November 26, with inspections planned before shortlisting applicants.
- Loans will be provided through Rastriya Banijya Bank at a 3% interest rate, but disbursement may be delayed until April due to election-related obstacles.
- The subsidised loan programme supports Nepal's startup ecosystem but has faced reductions in the loan ceiling and budget, raising concerns among experts.
