Victims of problematic cooperatives in Nepal will start receiving repayments from mid-May through a revolving relief fund created by the government, reports Nepalese media.
The fund currently holds around Rs 600 million, including Rs 250 million released by the Finance Ministry and Rs350 million recovered from borrowers. Authorities said repayments will be made in phases, beginning with small depositors.
Around 18,000 people with savings up to Rs 10,000 will receive full refunds first. The government has identified over 76,000 affected depositors with pending savings of Rs 4.56 billion. Officials said loan recovery, asset sales and strict action against defaulters will continue to support further repayments over the coming year.