In a recent statement, Finance Minister Janardan Sharma encouraged microfinance institutions (MFIs) to lower the interest rates they are now charging on loans. MFOIs all throughout the country have been making investments through loans with interest rates ranging from 10 to 15 percent per annum.
On Sunday, after hearing the requests of the Microfinance Association of Nepal (MFAN), Minister Sharma expressed his belief that the living conditions of the poor will not improve unless the MFIs that have access to rural areas lower their loan interest rates, as demanded by the MFAN. Minister Sharma stated that
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