Mega Bank and Helvetas join hands

Mega Bank Nepal and Helvetas — Swiss Intercooperation Nepal — have decided to implement an employment generation programme in eight districts.

Chief executive of Mega Bank Anil Keshary Shah and country director of Helvetas Shiva Prashad Aryal signed a Memorandum of Understanding today to aid residents of different districts in the Tarai with micro-financing for farmers who have been trained by Helvetas.

The joint programmes on entrepreneurship development and employment generation in the agriculture sector will be implemented in Rautahat, Sarlahi, Bara, Parsa, Banke, Bardiya, Kailali and Kanchanpur.

Under this joint initiative, the bank will deliver micro credit and other access to finance, whereas Helvetas will provide technical services and vocational training to the target group. The bank will provide micro loans of up to Rs 60,000 even without collateral, and interest rates will vary according to the loan.

"This will ensure sustainable growth of agro-based enterprises creating self-employment opportunities," Shah said, adding that the bank has plans to deliver branchless banking services in prospective rural locations where the project is being implemented.

The programme has been working on the development of small farmers and micro entrepreneurs on commercial banana farming, herb production and processing, season and off-season vegetables, and riverbed farming by providing the required training and technology transfer, informed Aryal.

Head of Micro Banking at Mega Bank Yub Raj Guragain informed that the bank will also organise training programmes for target groups on entrepreneurship development and micro credit services.