Laxmi Bank home loan scheme for the poor

KATHMANDU, Dec 12: 

Laxmi Bank has tied up with Lumanti, an NGO, to extend home loans to the poor residing in Tansen Municipality. An agreement to this effect was signed between the bank, Lumanti and Tansen Municipality, a bank statement says. The foundation stone of the project dubbed ´Community-led Housing Program´ was laid last Thursday, the statement adds. 

Under the program, the bank is extending a sum of Rs 150,000 to each family, payable in five years. 

"A total of 100 houses will be built," the statement says. The entire program will be overseen by a project management committee, comprising officials of the bank, Lumanti and Tansen Municipality, and local stakeholders. "The committee will identify potential borrowers and will forward recommendation for the loan after evaluating the borrower´s personal profile," says the statement.

Source: Republica