Gorkha Brewery to finance livestock

KATHMANDU, JAN 14: 

Gorkha Brewery has stepped into livestock financing under its Community Engagement Projects.

The brewery will provide the rural community of Mukundapur, Nawalparasi, collateral free loans to purchase mature milk yielding cows or buffaloes, on a group guarantee in partnership with local banks. 

Gorkha Brewery will also cover 50 per cent of loan processing and insurance costs. Likewise, it will also reimburse the EMI that borrowers pay over a period of three years at the end of the term on full payment of the loan and interest amount. Villagers can avail a maximum of Rs 20,000 per borrower at 17 per cent interest rate.

The brewery has financed loans worth Rs 4.36 million to 75 borrowers belonging to 15 microfinance groups, so far. The project will ensure that local villagers can be engaged in other income generating activities besides seeking employment at the brewery. 

The service is supposed to improve the living standard of the villagers as well.

The brewery is encouraging livestock financing because returns on the sale of milk is immediate as milk production is short on supply and the manure received can be re-utilised in the form of biogas or organic fertiliser.

The brewery has also been providing spent grain to local farmers as cattle fodder at minimal rates.

Source: THT