KATHMANDU, July 23: The government has amended the procedure on interest grant for concessional loans, devising an effective and systematic instrument for credit flows and monitoring grant management.
The Finance Ministry implemented the Procedure on Interest Grant for Concessional Loans (First Amendment), 2083 BS.
The amended procedure is available on the Ministry's website too.
Revised interest rate corridor system introduced
As per the amendment, the grantee should utilize the loans for the given topics and banks and financial institutions should regularly monitor the status and share the report with the concerned authority.
The procedure is aimed at controlling misuse of concessional loans, maintaining transparency in grant distribution and promoting effectiveness in grants.
Anything against the procedure and misuse of the grants will lead to an end to the interest grant and legal actions as per the law, it is stated.
The Ministry has asked all to implement the amended procedure to make the scheme target-oriented and result-focused.
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