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| Kathmandu, Friday December 13, 2002 Mangshir 27, 2059. |
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Insecurity affects loan repayment
Post Report
PANCHTHAR, Dec 12:Even after the government’s
announcement of exempting interest on loans amounting below ten thousand rupees, borrowers
seem quite reluctant to repaying such loans owing to security reasons. With the deadline
for repaying such small loans about only seventeen per cent farmers in this district have
paid back the loans to the Agricultural Development Bank, Fidim branch.
About one thousand farmers in the district
have taken such loans and the number of the loans is about two thousand, according to the
bank. Till now only 339 borrowers have made the repayment with which the number of paid
loans has come to 351. The bank expects repayment from only about 500 farmers before the
deadline, which is now less than a month.
The bank officials attribute the low number of such repayment
to the deteriorating security conditions. It is quite difficult to reach the farmers to
getting back the amounts, according to bank sources. The bank had formed several
monitoring teams for the loan repayment, but the team could not reach the farmers due to
insecurity. But no team was able to reach the villages to collect the investments, said
Hari Poudel, loan officer at the bank.
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