Kathmandu, 8 September: Agreement between Machhapuchhre Bank Limited (MBL) and Deposit and Credit Protection Fund  have reached an agreement regarding protection of agricultural loans. The agreement  was signed by Santosh Koirala, Chief Executive Officer  of the MBL and Ramesh Ghimire, Chief Executive Officer on behalf of the Credit Protection Fund. Prior to this, Machhapuchchhe Bank, according to the provisions of Nepal Rastra Bank, provided up to Rs. seven hundred thousand under educated youth self-employment loans  and Integrated procedure for interest subsidy for concessional loans, Rs. 10 hundred thousand under women's entrepreneurship loans invested under project loans and Dalit community business development loans. Credit facilities up to 1.5 million are being secured. With the signing of the agreement, it is said that the loan fund of up to Rs 30 million disbursed by the bank for agricultural business shall be secured. Out of such loans up to Rs 30 million, in case of loans above Rs 10 million, the bank has to take the prior approval of the Fund. In such a way, 50 percent of the 0.6 percent security fee of the loan secured will be borne by the Government of Nepal through grants and the remaining 50 percent will be paid to the fund in two installments by the bank. It is said that the bank can make a claim in case of the death of the secured agricultural loan borrower or if the agricultural project is destroyed due to natural disasters or the loan cannot be recovered due to various other reasons and the fund will pay up to 80 percent of the said claim. People's News Monitoring Service