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Article

9 May 2020

Author:
Republica

Nepal: Women entrepreneurs' body seek support from govt to keep their businesses from shutting down

"Women entrepreneurs seek govt support to bail their businesses out of COVID-19 crisis", 10 May 2020

The Federation of Women Entrepreneurs' Association of Nepal (FWEAN) has urged the government to waive the interest of the capital women entrepreneurs have burrowed to start their businesses as they are forced to incur a huge loss due to the nationwide lockdown enforced by the government to contain the spread of coronavirus (COVID-19).

...The body of women entrepreneurs across the country has said that a large number of businesses run by women entrepreneurs are likely to face closure if there is no support from the government.

...FWEAN has asked the government to make necessary arrangement to provide up to Rs 2.5 million additional loans to women entrepreneurs who have been already running their enterprises at a minimum two percent interest rate and make necessary arrangement to extend the loan from Rs 500,000 to Rs 2.5 million without any collateral on the 

FWEAN has urged the government to allocate the necessary budget to develop storage facilities as agriculture products produced by women entrepreneurs are going waste due to the lack of such facilities. It has also urged the government to make it mandatory to use local products produced by the women entrepreneurs to further promote women entrepreneurship and generate employment opportunities at home.