For foreign job seekers, NRB will offer loans without collateral.
In order to ensure successful execution, the NRB brought up this matter, which was included in the national budget for the current fiscal year as well as the monetary policy.
In a similar vein, the central bank has moved to put into effect the measures included in the budget for the current fiscal year, which aims to make it easier for the agriculture and innovation sectors to acquire loans.
"Arrangements will be made to provide collateral-free loans to those who have obtained labour permits to go for foreign employment in various countries based on the assurance of sending remittances to their bank accounts," the monetary policy says, citing the Government of Nepal's 2024–2025 budget statement.
In order to encourage youth entrepreneurship, the monetary policy also says that simple access to finance would be made available.
In a similar vein, the NRB will assist and coordinate with the government to address issues facing the cooperative sector. "The government of Nepal will be facilitated to implement the provision of refunding up to Rs 500,000 to the members of the saving and credit cooperatives by keeping as collateral the property owned by the troubled cooperatives and their operators and their family members to solve problems seen in the savings and credit cooperatives as mentioned in the budget statement of the government for the year 2024/25," reads the monetary policy for the current fiscal year 2024/25.