Mobilise funds to deprived communities, MFIs told

By A Staff Reporter

Kathmandu, Aug. 14: Minister of Land Management, Cooperatives and Poverty Alleviation Padma Kumari Aryal said on Tuesday that the Microfinance Institutions (FMIs) in the country had the responsibility to go to the poor people and help them get out of poverty. 

“The MFIs and cooperatives should mobilise funds to the deprived communities,” she said while speaking at the 28th Anniversary Function of the Centre for Self-Help Development (CSD).
She said that the microfinance sector of Nepal was facing multiple problems and it was necessary to resolve them in coordination with respective stakeholders.
Referring to the recently introduced interest rate cap for the cooperatives she said that it might not be necessary to reduce the interest rate in the areas where there is no economic development.
“However, a dialogue is needed to sort out this problem,” she said.
Chairman of CSD Shankar Man Shrestha said that the organisation initiated its activities from Jumla and Kalikot, some of the remotest regions in the country. “CSD facilitated the locals in cultivating vegetables, constructing toilets and saving their income,” he said.
Meanwhile, Second Micro entrepreneurship Development Prize for 2018/19 was awarded to Manushi Laghubitta Bittiya Sanstha Ltd. of Kavrepalanchok district. The prize carries a purse of Rs. 100,000 and certificate. Chairperson of Manushi Padmasana Shakya expressed her delight on winning the award and expressed her commitment to serve the deprived communities. 

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