Business owners will not be allowed to lay off staff after taking such loans until they pay back the loan
KATHMANDU, NOVEMBER 19
The Ministry of Finance has issued Business Continuation Loan Disbursement Guidelines to provide effective loans for the payment of wages of employees of domestic small and medium enterprises and tourism businesses affected by COVID-19 in order to ensure their continuity.
In accordance with the procedure endorsed by the Cabinet on the proposal of the finance ministry, the government will arrange the necessary amount at Nepal Rastra Bank to provide credit to help give continuity to businesses by providing concessional loans, as per a statement issued by the ministry.
The statement added that the government would open a business operation continuity loan flow research account