January 3: The High-Level Financial Sector Coordination Committee has decided to ensure that the concessional loan, business continuity loan and refinancing facility under the relief package reaches the targeted group.

The committee has made arrangements for Nepal Rastra Bank and Nepal Bankers Association to create favourable environment so that the maximum number of beneficiaries get the loan allocated by the government. The central bank and NBA have also been instructed to regularly make public the loan released under this heading.

A meeting of the committee chaired by Finance Minister Bishnu Poudel has also directed the central bank to study the effectiveness of the concessional loan and present a report in the next meeting.

The meeting also decided to address the grievances of the stakeholders in relation to the implementation of the relief package mentioned in the policies and programmes of the government by holding discussions between the concerned parties, the central bank and the NBA.

Other decisions taken by the meeting include a provision of opening branches of banks in four local units that are still out of reach of banking service under the initiative of the central bank. The meeting also instructed the Securities Board of Nepal (SEBON) to analyze the market trend and prepare an updated report.

The meeting was attended by the Vice Chairman of the National Planning Commission, Governor of Nepal Rastra Bank, Finance Secretary (Revenue), Deputy Governor, and heads of other regulatory bodies.