Kathmandu, May 6 -- Victims of cooperative fraud will begin receiving repayments from mid-May, according to officials. The payments will be made from a revolving fund collected by the Problematic Cooperatives Management Committee.

The fund was established last week through a Cabinet decision to facilitate the return of deposits to affected savers. The Ministry of Finance has already released Rs250 million for the fund, allocated under the current fiscal year budget for cooperative victims.

In addition, around Rs350 million has been recovered from borrowers of problematic cooperatives. Combined, the revolving fund currently stands at about Rs600 million. The committee said repayments will be made in phases, beginning with small depositor...