Microfinance beneficiaries' summit on Sunday
Fri, May 13, 2016 11:14 AM on External Media,
Centre for Self-help Development (CSD) along with other organizations working in microfinance sector is organizing a two-day National Microfinance Members' Summit in Kathmandu on Sunday.
Organizing a press meet on Thursday, Shankar Man Shrestha, chairman of CSD, said that the summit aims to discuss the achievements, and exemplary practices of the microfinance sector as well as the future strategy.
The summit will bring together a total of 700 participants, including 600 women, according to the organizers.
"The summit will provide an opportunity to the beneficiaries of microfinance institutions to share their stories on how the microfinance institution have benefitted them in promoting their entrepreneurship," said Shrestha.
"Currently, microfinance institutions have expanded their foothold to most of the rural areas of the country. However, there are many far-flung areas that still have no access to finance. This summit will try to find the appropriate model to reach out to these areas," he added.
There are 41 microfinance institutions, 25 financial intermediary non-governmental organization and nearly 100 cooperatives that are providing microfinance services to nearly 1.8 million people of 75 districts. These institutions have floated a total of Rs 300 billion in loans which have a recovery rate of nearly 99 percent, according to the statement.
"This summit is exclusively focusing on women who are the members of the microfinance institutions that are contributing to reduce poverty in the country," added Shrestha.
Source: Republica
