The government had brought a concept of refinancing for the recovery of industries and businesses that were adversely affected by the COV- ID-19 pandemic.
NATTA had been lobbying with Nepal Rastra Bank and concerned financial authorities regarding providing easy Refinancing to the small and medium enterprises, industries as per the guidelines for the long term. With the urging of NATTA and other associated associations, NRB has extended its refinancing timeline to the industries until 29th January 2021. A survey had been done by NATTA to its members querying on the refinancing details and any difficulties to process.
Aiming at providing relief to COVID-19 affected industries and businesses, the NRB brought a policy of providing loan at five per cent interest rate. According to the Refinancing Guidelines, loans that businesses acquire from BFIs and NRB will have a maximum maturity period of one year and such loans will not be renewed. Guidelines say NRB can float up to Rs 200 billion in refinancing loan in the market as per necessity.