National Food Bank established at investment of Rs 2 billion

Kathmandu- Office of National Food Bank has been inaugurated at New Baneshwor today. The Bank was established few months ago under the slogan ‘Sustainable Agriculture for Nutrient-Rich Food’ in order to give priority to organic production.
Chairperson of Bank, Shankarnath Upreti, said that the bank was established with an objective of giving emphasis on organic production by reducing dependency on agriculture.
The bank was established at the investment of Rs 2 billion and it has 590 promoter share members so far. Preparation has been made to increase the number of promoter share members to 1,000.
Upreti further said that the bank has been making preparation to issue IPO for general people soon by fulfilling all required criteria.
He shared, “We facilitate production of and carry out trade in rice, wheat, maize, vegetables and fruits through bank. We increase production collaborating with farmers.”
The bank has made preparation to begin activities of agriculture production in 23 districts in the first phase within current fiscal year. Six hundred bighas of land in different districts of Tarai have been taken on lease for the same.
The bank has already started production in 13 districts including Kailali, Kanchanpur, Bardiya, Jhapa, Morang, Sunsari, Chitwan and Rupandehi taking land on lease.
Reducing dependency on agriculture, increase agricultural production, and employment and addressing the issue of public health giving emphasis on organic production are some objectives of establishment of the bank.