ISLAMABAD: The Gilgit-Baltistan government and National Bank of Pakistan (NBP) have signed a memorandum of understanding (MoU) to promote tourism in the region.
The MoU will cater to the need for development of accommodation facilities for more than one million tourists, who visit the area annually, through the home stay financing programme, ‘NBP Maizbaan’.
The programme offers soft loans ranging from Rs375,000 to Rs1.30 million to the locals residing near the tourist spots for construction of up to three-room structures near their houses to rent out to tourists visiting the area. The locals would also get finances to construct small units attached to their houses.
The 10-year loan programme will have a minimum of 8 per cent…