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Biratnagar

Partnership with commercial bank for home loan to low income families.

An agreement has been signed between Sewa and Laxmi Bank, to provide home loan to some of the low income families. The bank issues the loans directly to individual borrowers who have been approved by the housing management committee and have set up their own accounts with the bank. The maximum home loan received is NPR 400,000.

The repayments goes into a special account in the bank, which will act as a kind of within-bank revolving loan fund, to be used to finance other housing improvement projects in the same or other cities.

The housing projects the bank loans finance (both new housing and in-situ upgrading) are all being planned and implemented by the communities themselves, using low-cost and seismic-proof building techniques, with technical support from Sewa. The project is currently being implemented in 5 wards of Biratnagar.