KATHMANDU, May 29: The government has announced a scheme to offer collateral-free concessional loans of up to Rs 2 million to educated youth in a bid to promote entrepreneurship and self-employment.
Unveiling the budget for Fiscal Year (FY) 2025/26 on Thursday, Finance Minister Bishnu Paudel said loans ranging from Rs 200,000 to Rs 2 million will be provided at a concessional interest rate of 3 percent.
Eligibility for the loan will be determined based on academic qualifications, business registration, skills certification, and a viable business plan, he added.