Micro loans to 1.2m

KATHMANDU, NOV 12: 

Rural Microfinance Development Centre and its partners lent Rs 1.2 million loans to poor families. During its 13th AGM in Kathmandu on Thursday, It said that it has lent Rs 5.81 billion through 95 partners in more than a decade. The microfinance has posted Rs 196.1 million profit in the fiscal year 2010-11. The AGM has approved paid up capital base increase from Rs 320 million to Rs 520 million though primary issue. It has authorised capital of Rs 1 billion.The company aims to provide loan to 150,000 poors this year. 

Source: THT