The post Nepal Startups Can Now Avail Subsidized Loan Up To NPR 5 Million at 2% rate! appeared first on Nepali Sansar.
]]>The startups can now avail a loan up to NPR 5 million or 50% of their total capital at a subsidized interest rate of 2%.
The government has announced the program with an aim to promote startups and businesses with innovative knowledge, skills, and capacities.
According to the Working Procedure, a five-member steering committee under the leadership of the National Planning Commission (NPC) will call for proposals from startups who have not been able to mobilize capital to innovate, run or operate their ideas.
The companies, including small and medium-scale enterprises from agriculture, energy, health, tourism, education, and information technology sectors, can submit their proposals.
In their proposals, the applicant should submit details about the innovative idea, associated risks, possible returns, required funds, expected seed capital, and positive impact on the economy, in a prescribed format of the working procedure.
The committee will then assess the proposals within 30 days and select appropriate proposals to offer the subsidy loans. Once the committee approves the proposal, the Finance Ministry will release the fund in three installments.
The first installment will be released to initiate the idea’s implementation, the second installment based on the work progress, and the last installment after the idea is implemented.
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]]>The post Nepal Endorses 15th Five-Year Plan (FY 2019/20-2023/24) appeared first on Nepali Sansar.
]]>The NPC meeting headed by Prime Minister Oli released the five-year plan for the period FY 2019/20 to FY 2023/24 that includes 18 ambitious projects.
Some of the Projects Include
- Prime Minister Agriculture Modernization Project
- Sunkoshi Marine Diversion Project
- Upper Arun Hydropower Project
- East-West Highway Upgradation
- Digital Nepal
NPC Vice-chairman Pushpa Raj Kandel, Finance Minister Yubaraj Khatiwada and PM’s chief advisor, among others were also present in the meeting.
Here are the main goals of the five-year periodic plan
- Increase per capita income to USD 1,585 against USD 1,047 of previous 5-year plan
- Achieve a minimum average economic growth up to 10.1% per annum
- Reduce poverty rate to 9% from the current 18.70%
- Increase literacy rate to 99% against the current 70%
- Achieve an average growth of 5.6% per annum in the agricultural sector, 17.1% in the industrial sector and 9.9% in the service sector
During this 15th plan, the Nepali Government aims at securing the status of developing country from least developed country.
The government also aspires to initiate programs and projects to fulfill the dreams of ‘Prosperous Nepal’ and ‘Happy Nepali’.
The concept paper of the 15th five-year plan was endorsed by the National Development Council (NDC) in Aril 2019.
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]]>The post Local Bodies Vital to Meet SDGs, Says Nepal Planning Commission appeared first on Nepali Sansar.
]]>“Local bodies will have to own SDGs,” noted NPC in its report titled ‘National Report on the Implementation of the 2030 Agenda for Sustainable Development’ released on August 02, 2017. It said a strong partnership between three tiers of government — federal, provincial and local — is extremely necessary to integrate SDGs into local-level structures.”
NPC also urged the Central government to provide sufficient funds at grass-root levels, thus enabling them to come up with various developmental programmes that meet UN-backed goals.
The Commission also pitched on the need for workshop and training sessions stating, “Consultation, workshops and trainings will be required to ensure that SDGs are incorporated in provincial and local plans. It is also equally important to ensure effective participation of women, youth and other marginalized groups in planning and implementation of SDGs at local level.”
SDGs, a follow-up on Millennium Development Goals (MDGs) that expired at the end of 2015, include 17 goals and 169 targets that cover a broad range of issues regarding sustainable development in Nepal. These UN-formed goals will have to be met by 2030.
Ending poverty & hunger, sustainable industrialization, inclusive & sustainable economic growth, employment and overall welfare of the public form major elements of SDGs.
Fund Crunch, a Major Challenge
According to the World Bank Council, implementation of SDGs will require at least USD 1.5 trillion a year at the global level.
It is still uncertain on how much the Nepali Government will have to invest on SDGs of Nepal, however, the government’s own financial resources were found insufficient.
“Therefore, Nepal is trying to manage financial resources from a triangular partnership, which includes the public and private sectors as well as development partners, as meeting SDGs is a shared responsibility of the national and international communities,” says the NPC report.
The post Local Bodies Vital to Meet SDGs, Says Nepal Planning Commission appeared first on Nepali Sansar.
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