Kathmandu: The Public Debt Management Office (PDMO) and Agricultural Development Bank Limited (ADBL) have formally signed a Subsidiary Loan Agreement (SLA) to implement the World Bank-funded Forests for Prosperity Project, a major initiative aimed at strengthening Nepal’s forest-based economy.
The agreement was signed by ADBL Chief Executive Officer Govinda Gurung in the presence of Deputy General Manager Sudip Kumar Dahal and Department Head Neeku Acarya.
According to officials, the SLA opens the door for forest-based enterprises across the country to access affordable financing tailored to promote sustainable forest-related business activities. The loan facility under the project has been structured to support entrepreneurs more effectively by setting a fixed interest rate of 7 percent, extending loan availability nationwide, and capping the maximum loan amount at Rs 150 million.
The project is expected to boost investment in forestry enterprises, enhance livelihoods, and contribute to sustainable economic growth by leveraging Nepal’s rich forest resources.
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