Nabil Bank launches entrepreneurship loan scheme for returning migrants

KATHMANDU: Nabil Bank launched the Skilled Migrant Entrepreneurship Loan Scheme. The bank launched the loan scheme in Kathmandu on Thursday.

It is said that the Nabil Skilled Migrant Entrepreneurship Loan scheme has been introduced to encourage the youth who came to Nepal after learning skills by going abroad for employment.  The bank has launched a loan facility of up to 100 million rupees for expatriate Nepalis and their families who desire to conduct business in the nation. The bank has also set loan limits ranging from 1.5 million to 100 million rupees, which are divided into stages.

The bank will also provide a loan of 1.5 million rupees to expatriate Nepalis working in agriculture, handicrafts, and small businesses. The bank has devised a scheme to provide loans ranging from 1.5 million to 10 million rupees to those seeking to expand the business through increased investment.

Chairman of the bank, Upendra Prasad Paudel, said that the bank has launched the Nabil Skilled Migrant Entrepreneurship Loan Scheme campaign to facilitate the youth who have returned from foreign employment. He stated that because Nepalis have brought a variety of skills and capital from overseas, if they can find work and start their own businesses, the country's economic position will improve.

According to Paudel, Nabil Bank has devised a strategy to foster an environment in which migratory Nepalis may apply the skills they obtained abroad to develop long-term employment and business opportunities. He said me that the bank did not intend to make much profit from the Nabil Skilled Migrant Entrepreneurship Loan Scheme.

He further stated that this initiative was created with the intention of creating jobs and conducting business in the country by utilizing talents acquired overseas.

Gyanendra Prasad Dhungana, chief executive officer of the bank, said that Nepali workers who have gone abroad will be encouraged to receive remittances from the formal sector through the loan scheme of Nabil Bank. He said that when the remittance comes formal, he has brought a plan to help the country's economy financially.