NRA to give quake-hit concessional loans

- Post Report, Kathmandu

May 6, 2016-

The National Reconstruction Authority has said that the people who lost their homes to the earthquakes last year will receive rebuilding loans without collateral and at a subsidised interest rate if the Rs200,000 grant is insufficient.

Immediately after the April 25 quake last year, the government had announced Rs200,000 rebuilding subsidy for every household rendered homeless. It had also announced to provide Rs2.5 million as special housing loan at a 2 percent interest rate for the displaced people in urban areas and Rs1.5 million in rural areas.

“If the grant is insufficient to rebuild a house, the affected household will be provided a loan of Rs300,000 without collateral,” NRA Spokesman Ram Prasad Thapaliya said. There could also be additional loans. The earthquake destroyed more than 600,000 houses and damaged close to 300,000 others. The central bank has already directed all the commercial banks to provide loans to the affected households.

Published: 06-05-2016 07:51

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