Myagdi. Jaljala Rural Municipality of Parbat district, which has its office at Lamakhet on the border of Beni Bazaar, has provided collateral-free loan to entrepreneurs.

In the first four months of the current fiscal year 2082/83, 12 entrepreneurs were provided a loan of Rs 100,000 each under the ‘Ward Development Programme through Transformational Social Mobilization’.

According to Bheshnath Acharya, social development officer of the rural municipality, the loan is being provided at seven percent interest rate annually in four installments. After four months, the loan amount has been provided at the rate of Rs 25,000 each in 16 months. The entrepreneurs have been selected on the basis of application collection, on-site monitoring of the enterprises, decision of the concerned Toll Development Organization and recommendation of the ward office.

Ganga Kumari Paija of Ward No. 1 is involved in poultry farming, Chammaya Khorja Pun of Ward No. 6 is involved in goat farming and vegetable farming, Chandrakali Gharti Chhetri of Ward No. 2 is involved in buffalo rearing, Guma Chhetri of Ward No. 8 and Narayan GC is involved in animal husbandry, Jagat Bahadur Gharti Chhetri of Ward No. 4 is involved in fish farming, Dhak Bahadur Gharti Chhetri of Ward No. 8 is involved in poultry farming, and Bam Bahadur Garbuja Magar of Ward No. 9 has constructed a plastic pond. Gagan Bahadur Mahat of ward no. 8 has received a loan for buffalo farming, Maya Gharti Chhetri of ward no. 3 for beauty products business and Durga Damai of ward no. 7 for vegetable farming and poultry farming.

The agreement was signed in the presence of rural municipality chair Raju Prasad Acharya, vice-chairman Deepak Acharya and chief administrative officer Khagaraj Gautam. According to the rural municipality, Rs 900,000 will be invested to nine people in the fiscal year 2080/81 and Rs 1.975 million to 20 people in 2081/82.

The amount of the revolving fund received without collateral at concessional interest rate will have to be returned to the Tole Development Organization after the expiry of the period. The programme has been implemented with the objective of producing good entrepreneurs, promoting entrepreneurship, maintaining quality in physical infrastructures, making the country self-reliant in agriculture and livestock products, reducing outmigration of youths and creating employment opportunities.

The rural municipality has encouraged entrepreneurs involved in self-employment activities through commercial production of fruits, vegetables, livestock rearing, and manufacture of household tools and appliances.