Special Credit for Biodigester

Special Loan for Biodigester Construction
 
 
PRASAC’s and Amret loans for biogas plants:
 
The lack of cash among farmers and the absence of an affordable credit product has always been mentioned by the PBPOs is the main bottleneck for the construction of plants. Due to the joint efforts of FMO, PRASAC-MFI and NBP this problem has been solved from November 2007 onwards. Based on the need of farmers FMO expand its effort to Amret Financial Institute and NBP starting from May 2009. All farmers in the NBP provinces have access to a special biodigester credit at favourable terms compared to regular micro-credit. The terms and conditions for biodigester credit are as follows:
  • Loan amount: 150.00US$ - 1,000.00US$, or 600,000 Riel – 4,000,000 Riel, but not allowed more than the plant cost
  • Interest rate: 1.2% per month or 14.40% per annum
  • Loan Term: 4 months or 24 months
  • Pre-repayment: $150 subsidy from NBP is the full principal and interest pre-repayment after construction completed
  • Interest is only calculated on the outstanding amount
  • Repayment must be done in the MFI office
  • Repayment modes are flexible ranging from monthly to four-monthly

 
  
 
Designed by: Manich