KATHMANDU, MAY 2, 2012
The Ministry of Industry (MoI) will initiate homework on the Women Entrepreneurship Development Fund (WEDF) by the end of this week.
According to MoI, it will request the Ministry of Finance (MoF) to expedite the process of setting up the fund as soon as the MoI working committee gives final approval to the amendments to the fund’s working guidelines.
MoF had asked MoI to amend some of the clause of the guidelines.
MoI Spokesperson Yam Kumari Khatiwada said the Finance Ministry has agreed on the preliminary draft of the working guideline. “After making the necessary amendments, we will request the Finance Ministry to initiate the process of establishing the fund,” said Khatiwada, adding that MoI has planned to distribute loans from the fund to women entrepreneurs of at least three districts by the end of this fiscal year.
This year’s budget has allocated Rs 100 million for the setting up of the fund. MoI had formed a seven member working committee to prepare the draft of the fund’s working guidelines. The draft guidelines have proposed providing collateral-free loans up to Rs 300,000 to women seeking to start their own business.
The ministry will sanction loans as per the recommendations of local committees to be formed. Local committees will include representatives from district-based bodies working in the field of micro and cottage industry development, and local and central business associations like the Federation of Nepal Cottage and Small Industries or the Federation of Nepalese Chamber of Commerce and Industry.
Source: The Kathmandu Post
The Ministry of Industry (MoI) will initiate homework on the Women Entrepreneurship Development Fund (WEDF) by the end of this week.
According to MoI, it will request the Ministry of Finance (MoF) to expedite the process of setting up the fund as soon as the MoI working committee gives final approval to the amendments to the fund’s working guidelines.
MoF had asked MoI to amend some of the clause of the guidelines.
MoI Spokesperson Yam Kumari Khatiwada said the Finance Ministry has agreed on the preliminary draft of the working guideline. “After making the necessary amendments, we will request the Finance Ministry to initiate the process of establishing the fund,” said Khatiwada, adding that MoI has planned to distribute loans from the fund to women entrepreneurs of at least three districts by the end of this fiscal year.
This year’s budget has allocated Rs 100 million for the setting up of the fund. MoI had formed a seven member working committee to prepare the draft of the fund’s working guidelines. The draft guidelines have proposed providing collateral-free loans up to Rs 300,000 to women seeking to start their own business.
The ministry will sanction loans as per the recommendations of local committees to be formed. Local committees will include representatives from district-based bodies working in the field of micro and cottage industry development, and local and central business associations like the Federation of Nepal Cottage and Small Industries or the Federation of Nepalese Chamber of Commerce and Industry.
Source: The Kathmandu Post
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