National Micro Entrepreneurs Federation Nepal and Nirdhan Uthan sign agreement

Kathmandu February 26– National Micro Entrepreneurs Federation Nepal (NMEFEN) and Nirdhan Utthan Bank Ltd (NUBL) have signed an agreement to provide access to finance for micro entrepreneurs.

According to the MoU, the NUBL will provide collateral free loan of up to Rs 300,000 to the micro entrepreneurs promoted by Micro Enterprise Development Programme (MEDEP) and Nepal government’s Micro Enterprise Development for Poverty Alleviation (MEDPA) programme, as per a statement issued on Thursday.

The MoU also mentions that for other entrepreneurs requiring higher amount, loan will be provided as per central bank directives. NMEFEN Chairperson Lakpa Lama and Chief Executive Officer of NUBL Janardan Dev Pant signed the agreement. Over 40,000 micro entrepreneurs from 52 districts, most of them hilly and mountainous, are expected to benefit from the MoU.