The US is helping Nepal strenghten fiscal and trade policies.
"The US Agency for International Development (USAID) through Nepal Economic, Agriculture and Trade (NEAT) project will also encourage competitiveness and exports, enhance food security and increase access to financial services," said US ambassador Scott H DeLisi at the launching the NEAT programme here in the Valley today.
"Development assistance alone cannot improve lives of Nepalis, DeLisi said, Lauding the private sector's role. "The private sector could transform the economy and create opportunities for youth not the international donors."
NEAT will invest $30 million to foster a conducive business environment for private sector-led growth, encourage competitiveness and exports in selected agriculture and non-agriculture commodities or services, initially tragetting lentile, ginger, orthodox tea and vegetables, said NEAT's chief of Party Phil Broughton.
The programme will help improve trade and fiscal policies and practices to facilitate trade and increase revenues without distorting the economy, he said, adding that the programme will also strenghten microfinance policy and institutions to increase access of women, poor and disadvantaged to financial services.
Broughton also emphasised on the need to create Credit Information Bureau (CIB) for microfinance institutions to check multiple lending -- that has been observed recently -- as the over lending could create systemic problem in the microfinance sector.
The two-and-a-half year NEAT programme also targets to work in selected districts in the Mid-West and far-West regions. "Working with a broad range of partners including the government agencies business associations, farmers' cooperatives microfinance institutions, NGOs and local research institutions, the programme is expected to impact millions of lives in the rural areas, he added.
Similarly, taking part in the panel discussion Laxmi Bank CEO Suman Joshi said that marriage of technology and microfinance can help expand reach of financial access to rural youths and reverse the trend of increasing informal economy.
"Capacity building of bureaucracy, professional trade union and policy stability can help propel economic growth," he said, advising to reform capital market to attract Foreign Institutional Investors as without foreign direct investment, the country cannot invest on huge infrastructure projects.
"The national savings is too low to fund big projects leaving no alternatives to attract foreign direct investment," he added.
Showing posts with label Micrafinance. Show all posts
Showing posts with label Micrafinance. Show all posts
Tuesday, March 29, 2011
Monday, December 13, 2010
ADB $250m Risk Programme to help expand Microfinance to poor
The Asian Development Bank's (ADB) Board of Directors today approved a Microfinance Risk Participation Programme, marking ADB's first large scale private sector microfinance initiative.
The programme will allow ADB to partner with financial institutions that actively lend to microfinance institutions (MFIs) in ADB's developing member countries, and to share the default risk on underlying MFI loans. The proposed programme will support the expansion of lending to MFIs, in turn enabling increased provision of financial services to the underserved. This will help address the significant unmet demand from the poor for financial services, and provide additional funding for micro-borrowers. Under the terms of the program, ADB will typically assume up to 50 per cent of the default risk on loans made to MFIs, in aggregate up to a maximum of $250 million, according to the Manila-based bank.
"Microcredit has been shown to play an important role in providing seed money for businesses and improving the lives of the poor," said Philip Erquiaga, Director General of ADB's Private Sector Operations Department. "This programme will allow microfinance institutions to expand lending to segments of the population who currently lack access to funds."
The microfinance industry has boomed in recent years with Asian institutions estimated to have over 47 million borrowers as of the end of 2008, with outstanding loans of over $10 billion. Demand is enormous, with as many as 600 million to one billion poor workers worldwide needing services, including a large number in Asia and the Pacific, home to two-thirds of the world's poor. Microfinance businesses seeking to serve this market are hampered by limited access to finance from banks, exchange rate issues, and other barriers.
The risk sharing arrangement, proposed by ADB to a range of international and local financial institutions, will allow these participants to boost loans to microfinance institutions, which in turn will result in scaled up assistance to groups currently unable to access funds, such as poor households, women and cash-strapped small enterprises.
"Under this arrangement, commercial financing institutions which are developing microfinance operations will be able to achieve greater lending scale without overextending their risk exposure," said Erquiaga.
ADB's risk support will enable participating institutions to build up their microfinance lending operations, which will help extend the reach of the commercial microfinance sector as a whole, and contribute to the development of the private sector.
ADB has been a major supporter of the microfinance and microenterprise sector for almost two decades with up to $1.9 billion in aggregate assistance for approved projects since 1988. It has extensive experience in risk sharing activities through its Trade Finance Programme, under which it provides risk coverage to international banks to support trade transactions.
Friday, October 22, 2010
National Microfinance Vision 2015 in offing
Rural Microfinance Development Centre (RMCD) is organising a Nepal Microfinance Vision -2015 conference to formulate a medium-term vision for the coming five years.
"RMDC has planned a two-day conference to formulate a medium-term vision for 2015 in Kathmandu on October 28-29," said Shankar Man Shrestha, chief executive officer at the Centre addressing the 12th annual general meeting of the Centre here today.
"RMDC has encouraged all the Microfinance Institutions (MFIs) to formulate their individual visions for the next five years," he said, adding that the Centre will consolidate all the visions into one and formulate the National Microfinance Vision-2015 with well-defined strattegies and action plan.
There are around 90 microfinance institutions in operations currently. Out of the them, 86 are associated with the RMDC that provides wholesale credit, institutional strengthening and capacity building supports to MFIs, and training supports to the ultimate borrowers through the concerned MFIs. "Apart from MFIs some 40 specialised co-operatives are also associated with the RMDC," he added.
However, the cost of funds and the lending rate of the banks and financial institutions have gone up creating the supply of fund's constriants to the microfinance sector," said Ashoke Shumshere Rana, chairperson of the Board of Directors (BoD) of RMDC.
Despite all the odds, the authorised capital of the Centre has been raised to Rs 1 billion and the issued as well as paid up capital to Rs 540 million, Rana said, adding that the Centre will floate Rs 156 million worth shares to the general public, including five per cent to its staff, and Rs 44 million to the national or international institutions.
In the fiscal year 2009-10, the Centre has disbursed Rs 1.20 billion loan to varous MFIs, including some development banks. The MFIs have been providing financial services to more than one million poor households in the country.
MFIs have been helpful in creating a just society with women empowerment and economic empowerment.
"Encouraged by the success of MFIs, the government has announced a new mMicrofinance Policy," he said, adding that the central bank has also issued a new directives enabling microfinance institutions to mobilise deposits from the general public.
However, alongwith growth the MFIs have also been encountering some challenges. "But RMDC will work for resolving the problem of over financing caused by multiple financing of the MFIs," he added.
Though MFIs have been developed as an industry in last one decade, it has been observed that there has been some unhealthy competitions among the MFIs recently.
"The cut-throat competitions due to increasing numbers of MFIs lately -- especially in Tarai districts -- has encouraged unhealthy competitions," said Shrestha. "RMDC will look into the cases of overdebt seriously and try to make MFIs more responsible for their sustained growth."
Promoted by Nepal Rastra bank (NRB) -- the central bank -- and commercial banks, RMDC’s primary objective is to provide microfinance access, via microfinance institutions, to rural poor households, especially to women. The clients can then undertake viable farm and off-farm economic activities and improve their quality of life.
"RMDC has planned a two-day conference to formulate a medium-term vision for 2015 in Kathmandu on October 28-29," said Shankar Man Shrestha, chief executive officer at the Centre addressing the 12th annual general meeting of the Centre here today.
"RMDC has encouraged all the Microfinance Institutions (MFIs) to formulate their individual visions for the next five years," he said, adding that the Centre will consolidate all the visions into one and formulate the National Microfinance Vision-2015 with well-defined strattegies and action plan.
There are around 90 microfinance institutions in operations currently. Out of the them, 86 are associated with the RMDC that provides wholesale credit, institutional strengthening and capacity building supports to MFIs, and training supports to the ultimate borrowers through the concerned MFIs. "Apart from MFIs some 40 specialised co-operatives are also associated with the RMDC," he added.
However, the cost of funds and the lending rate of the banks and financial institutions have gone up creating the supply of fund's constriants to the microfinance sector," said Ashoke Shumshere Rana, chairperson of the Board of Directors (BoD) of RMDC.
Despite all the odds, the authorised capital of the Centre has been raised to Rs 1 billion and the issued as well as paid up capital to Rs 540 million, Rana said, adding that the Centre will floate Rs 156 million worth shares to the general public, including five per cent to its staff, and Rs 44 million to the national or international institutions.
In the fiscal year 2009-10, the Centre has disbursed Rs 1.20 billion loan to varous MFIs, including some development banks. The MFIs have been providing financial services to more than one million poor households in the country.
MFIs have been helpful in creating a just society with women empowerment and economic empowerment.
"Encouraged by the success of MFIs, the government has announced a new mMicrofinance Policy," he said, adding that the central bank has also issued a new directives enabling microfinance institutions to mobilise deposits from the general public.
However, alongwith growth the MFIs have also been encountering some challenges. "But RMDC will work for resolving the problem of over financing caused by multiple financing of the MFIs," he added.
Though MFIs have been developed as an industry in last one decade, it has been observed that there has been some unhealthy competitions among the MFIs recently.
"The cut-throat competitions due to increasing numbers of MFIs lately -- especially in Tarai districts -- has encouraged unhealthy competitions," said Shrestha. "RMDC will look into the cases of overdebt seriously and try to make MFIs more responsible for their sustained growth."
Promoted by Nepal Rastra bank (NRB) -- the central bank -- and commercial banks, RMDC’s primary objective is to provide microfinance access, via microfinance institutions, to rural poor households, especially to women. The clients can then undertake viable farm and off-farm economic activities and improve their quality of life.
Saturday, February 13, 2010
Cooperatives can bring sea-change
The cooperative movement has brought about a sea change in rural economy, said Horst Ammann, Programme Manager, Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) GmbH-Inclusive Development of the Economy (INCLUDE), one of the lead contributors to the second Microfinance Summit Nepal 2010.
"Cooperatives are doing good at the primary level," he said adding that at the secondary level it has to be reworked with access to finance. Without broad access to finance, inclusive economic growth cannot be achieved," he said.
"Without cooperatives nothing can move in rural areas," Ammann added. "Apart from access to finance, they should be capacitated, supervised and encouraged."
The German agency had also supported the first microfinance summit in 2008 that has proven a successful tool in uniting microfinance stakeholders in Nepal and abroad towards building a strong and inclusive microfinance sector.
His organisation has helped found many cooperatives, helped manage them and also trained small farmers' cooperative system that provides financial and non-financial services. It was GTZ that helped form Small Farmers Development Bank.
Though they are doing good, the movement needs a another look. "An independent federation of cooperatives would make sense," he said adding that the government can play the role of regulator. The government should give them space for their development and not interfere.
However, Ammann was upbeat about the summit. "We are also looking forward to share experiences from GTZ INCLUDE's programme approach in 14 programme districts of Nepal. We will present our lessons learned vis-à-vis a 'business model for value chain finance through cooperatives' as well as 'linking entrepreneurship development with microfinance clients'. We are also looking forward to the input of stakeholders," he added.
He also called for strong and united messages from stakeholders of the microfinance sector. "We are looking forward to answers to open issues like deprived sector lending, how microfinance can contribute to inclusive growth in Nepal, increasing access to financial services in remote areas and to disadvantaged groups, the missing middle, the commercialisation of microfinance institutions and what more roles cooperatives can play."
Philipp Kruschel, Senior Advisor to GTZ INCLUDE, said he was happy to support the summit. "The summit is a unique opportunity to bring together a broad range of microfinance practitioners with representatives of the public sector as well as development partners here and abroad and jointly develop a vision for the future," he said adding that it would be a great chance to discuss the opportunities for and challenges to the microfinance sector in the light of much-needed inclusive economic growth in Nepal.
For inclusive economic growth, education is a must. "The basic concept of cooperatives is to educate," Ammann said adding that people should understand the value of education. "To push for education, the government has to support and protect the movement."
The educated mass can be involved in economic activities and by delivering financial services to people in rural areas the lower income strata can be brought within the ambit of economic activity.
In a similar fashion, inclusive economic growth can only be achieved if the 'missing middle', which neither has access to micro credit nor to services of commercial banks, will not be left out of this process.
Second Microfinance Summit
The second edition of the Microfinance Summit is going to be held on February 14-16 in Kathmandu.
The summit -- with the theme 'Microfinance for Inclusive Economic Growth' -- is aimed at addressing some new issues in the sector that has been identified after the success of Microfinance Summit 2008 and the seventh National Steering Committee meeting held on September 11 2009.
This summit aims to discuss on how to increase funding for the microfinance sector to improve client retention for microfinance services while simultaneously improving the livelihood of existing clients with entrepreneurial skills; how to make microfinance more inclusive towards excluded groups, the formal financial sector, and the macroeconomic framework of Nepal; how to properly govern Microfinance institutions so that they can not only reach their intended target markets in rural areas, but also provide them with sustainable microfinance practices; how to eradicate the burdens of poverty such as a lack of access to healthcare and education through the incorporation of savings and insurance schemes with microfinance practices; and how to improve credit schemes and creating a model for value chain finance in microfinance in cooperation with commercial banks so as to improve the sustainability of the microfinance sector.
The goal of the Microfinance Summit Nepal 2010 is to unite microfinance stakeholders in Nepal and ensure microfinance for inclusive economic growth. It also aims to improve and increase outreach to all households in need of microfinance services with the development of a joint microfinance strategy and action plan.
The second summit also aims to facilitate a broad dialogue among all stakeholders involved in the field of microfinance: policymakers and regulators, public institutions concerned with the microfinance sector -- including government-owned banks, microfinance practitioners, commercial banks and interested financial sector institutions -- including insurance agencies, remittance service providers, technical support providers and training institutes, and international donors.
It aims at discussing the issues for further development of the sector and to develop strategies to overcome any shortcomings; share information on current microfinance practices in Nepal and provide participants with up-to-date information on experimental trends and innovations -- both technical and strategic -- in the national and international microfinance sector; encourage policymakers to adopt recommended policies in order to improve the effectiveness of the microfinance sector in the national development strategy; showcase the achievements of Nepal's microfinance sector and the commitment of its stakeholders through a presentation of the results of the summit at the Global Micro-credit forum.
Microfinance has been one of the effective tools for poverty reduction in the developing countries. Despite ongoing development efforts, poverty remains rampant in Nepal with approximately 31 per cent of the population living below the poverty line. The incidence of poverty is highest in remote and rural areas. Through the creation of sound microfinance institutions and systems, poor people can safely deposit money and accumulate funds for future investments or emergencies as well as access loans for productive purposes leading to higher incomes.
Microfinance also produces an impact in other areas including good governance, participation in the political processes, women empowerment, social inclusion, and conflict transformation.
Currently, more than 1.6 million individuals in the rural population have access to microfinance services. This figure represents approximately eight per cent of the population and approximately 26 per cent of the people living below the poverty line.
However, the outreach of sustainable and sound microfinance institutions to the rural and urban poor must be increased to obtain more effective statistics and further diminish poverty.
The Microfinance Summit Nepal 2010 will attempt to address the broader theme by focusing on Value Chain Finance, innovative products and services, clients and protection, sources of fund and competitiveness.
Thus, the summit is expected to bring a series of outcomes. The first outcome will be that stakeholders shall see themselves as an integral part of the microfinance movement in Nepal. Despite the fact that some of the institutions involved will attempt to operate with a competitive mindset, all stakeholders shall recognize the need to coordinate with each other for the greater good of developing the microfinance sector. The second outcome is that stakeholders can plan and implement their strategies and activities based on an improved knowledge of the status of microfinance in Nepal and worldwide. This means that institutional development plans of the individual stakeholders will be based on a sound understanding of their own strengths and weaknesses in addition to any opportunities and threats present in Nepal’s microfinance market.The third outcome is that policymakers and regulators will have a much better understanding of what the sector further needs to grow and provide information regarding the international practices in microfinance regulation. This enables them to make informed decisions and develop strategies and policies which are understood and supported by microfinance practitioners. In addition, the event creates mutual trust between the public and the private sector by openly showing each other’s capabilities and limitations.The fourth outcome is the product diversification of microfinance in Nepal such as clean and green finance, remittances, education, health insurance, value chain, and savings and credit schemes.The fifth outcome is an increased awareness in Nepal and elsewhere regarding the efforts all stakeholders are making to improve the living conditions of the poor in Nepal. A showcase of the product diversification of microfinance has the intention of not only raising awareness, but also of depicting the potentials that lie within microfinance. This should manifest itself in an increase in sources of funding available for microfinance development and support for inclusive economic growth.The final outcome that is expected from the Summit is the protection of microfinance clientele. The practice of client duplication not only provides inaccurate statistics regarding the range of the microfinance sector, but also increases the chances of loan defaults and the disruption of the client's way of life. Through efforts to increase the entrepreneurial skills of clients, it is hoped that they will be able to use their loans effectively and reduce the incentive to accept loans from other microfinance institutions.
The impact would result in the emergence of sounder microfinance institutions and networks, and a stronger microfinance support structures through updating national microfinance strategies to match international standards and procedures aimed at increasing the capacity for inclusive economic growth; broader support for microfinance saving schemes from the financial sector, private sector, and the international community; and creation of a framework structured at not only providing legal recognition towards community based projects, but also facilitating in the sustainability of microfinance projects. This, in turn, should help Nepal’s poor to gain access to affordable and sustainable micro-financial services.
At the end of the Summit, a joint declaration will be prepared which shall incorporate the suggestions of all participants on how to improve the microfinance sector in Nepal.
The Declaration will provide policymakers with feedback on how microfinance stakeholders envision the future of the sector and could be helpful to the government in preparing strategy papers and policies.
"Cooperatives are doing good at the primary level," he said adding that at the secondary level it has to be reworked with access to finance. Without broad access to finance, inclusive economic growth cannot be achieved," he said.
"Without cooperatives nothing can move in rural areas," Ammann added. "Apart from access to finance, they should be capacitated, supervised and encouraged."
The German agency had also supported the first microfinance summit in 2008 that has proven a successful tool in uniting microfinance stakeholders in Nepal and abroad towards building a strong and inclusive microfinance sector.
His organisation has helped found many cooperatives, helped manage them and also trained small farmers' cooperative system that provides financial and non-financial services. It was GTZ that helped form Small Farmers Development Bank.
Though they are doing good, the movement needs a another look. "An independent federation of cooperatives would make sense," he said adding that the government can play the role of regulator. The government should give them space for their development and not interfere.
However, Ammann was upbeat about the summit. "We are also looking forward to share experiences from GTZ INCLUDE's programme approach in 14 programme districts of Nepal. We will present our lessons learned vis-à-vis a 'business model for value chain finance through cooperatives' as well as 'linking entrepreneurship development with microfinance clients'. We are also looking forward to the input of stakeholders," he added.
He also called for strong and united messages from stakeholders of the microfinance sector. "We are looking forward to answers to open issues like deprived sector lending, how microfinance can contribute to inclusive growth in Nepal, increasing access to financial services in remote areas and to disadvantaged groups, the missing middle, the commercialisation of microfinance institutions and what more roles cooperatives can play."
Philipp Kruschel, Senior Advisor to GTZ INCLUDE, said he was happy to support the summit. "The summit is a unique opportunity to bring together a broad range of microfinance practitioners with representatives of the public sector as well as development partners here and abroad and jointly develop a vision for the future," he said adding that it would be a great chance to discuss the opportunities for and challenges to the microfinance sector in the light of much-needed inclusive economic growth in Nepal.
For inclusive economic growth, education is a must. "The basic concept of cooperatives is to educate," Ammann said adding that people should understand the value of education. "To push for education, the government has to support and protect the movement."
The educated mass can be involved in economic activities and by delivering financial services to people in rural areas the lower income strata can be brought within the ambit of economic activity.
In a similar fashion, inclusive economic growth can only be achieved if the 'missing middle', which neither has access to micro credit nor to services of commercial banks, will not be left out of this process.
Second Microfinance Summit
The second edition of the Microfinance Summit is going to be held on February 14-16 in Kathmandu.
The summit -- with the theme 'Microfinance for Inclusive Economic Growth' -- is aimed at addressing some new issues in the sector that has been identified after the success of Microfinance Summit 2008 and the seventh National Steering Committee meeting held on September 11 2009.
This summit aims to discuss on how to increase funding for the microfinance sector to improve client retention for microfinance services while simultaneously improving the livelihood of existing clients with entrepreneurial skills; how to make microfinance more inclusive towards excluded groups, the formal financial sector, and the macroeconomic framework of Nepal; how to properly govern Microfinance institutions so that they can not only reach their intended target markets in rural areas, but also provide them with sustainable microfinance practices; how to eradicate the burdens of poverty such as a lack of access to healthcare and education through the incorporation of savings and insurance schemes with microfinance practices; and how to improve credit schemes and creating a model for value chain finance in microfinance in cooperation with commercial banks so as to improve the sustainability of the microfinance sector.
The goal of the Microfinance Summit Nepal 2010 is to unite microfinance stakeholders in Nepal and ensure microfinance for inclusive economic growth. It also aims to improve and increase outreach to all households in need of microfinance services with the development of a joint microfinance strategy and action plan.
The second summit also aims to facilitate a broad dialogue among all stakeholders involved in the field of microfinance: policymakers and regulators, public institutions concerned with the microfinance sector -- including government-owned banks, microfinance practitioners, commercial banks and interested financial sector institutions -- including insurance agencies, remittance service providers, technical support providers and training institutes, and international donors.
It aims at discussing the issues for further development of the sector and to develop strategies to overcome any shortcomings; share information on current microfinance practices in Nepal and provide participants with up-to-date information on experimental trends and innovations -- both technical and strategic -- in the national and international microfinance sector; encourage policymakers to adopt recommended policies in order to improve the effectiveness of the microfinance sector in the national development strategy; showcase the achievements of Nepal's microfinance sector and the commitment of its stakeholders through a presentation of the results of the summit at the Global Micro-credit forum.
Microfinance has been one of the effective tools for poverty reduction in the developing countries. Despite ongoing development efforts, poverty remains rampant in Nepal with approximately 31 per cent of the population living below the poverty line. The incidence of poverty is highest in remote and rural areas. Through the creation of sound microfinance institutions and systems, poor people can safely deposit money and accumulate funds for future investments or emergencies as well as access loans for productive purposes leading to higher incomes.
Microfinance also produces an impact in other areas including good governance, participation in the political processes, women empowerment, social inclusion, and conflict transformation.
Currently, more than 1.6 million individuals in the rural population have access to microfinance services. This figure represents approximately eight per cent of the population and approximately 26 per cent of the people living below the poverty line.
However, the outreach of sustainable and sound microfinance institutions to the rural and urban poor must be increased to obtain more effective statistics and further diminish poverty.
The Microfinance Summit Nepal 2010 will attempt to address the broader theme by focusing on Value Chain Finance, innovative products and services, clients and protection, sources of fund and competitiveness.
Thus, the summit is expected to bring a series of outcomes. The first outcome will be that stakeholders shall see themselves as an integral part of the microfinance movement in Nepal. Despite the fact that some of the institutions involved will attempt to operate with a competitive mindset, all stakeholders shall recognize the need to coordinate with each other for the greater good of developing the microfinance sector. The second outcome is that stakeholders can plan and implement their strategies and activities based on an improved knowledge of the status of microfinance in Nepal and worldwide. This means that institutional development plans of the individual stakeholders will be based on a sound understanding of their own strengths and weaknesses in addition to any opportunities and threats present in Nepal’s microfinance market.The third outcome is that policymakers and regulators will have a much better understanding of what the sector further needs to grow and provide information regarding the international practices in microfinance regulation. This enables them to make informed decisions and develop strategies and policies which are understood and supported by microfinance practitioners. In addition, the event creates mutual trust between the public and the private sector by openly showing each other’s capabilities and limitations.The fourth outcome is the product diversification of microfinance in Nepal such as clean and green finance, remittances, education, health insurance, value chain, and savings and credit schemes.The fifth outcome is an increased awareness in Nepal and elsewhere regarding the efforts all stakeholders are making to improve the living conditions of the poor in Nepal. A showcase of the product diversification of microfinance has the intention of not only raising awareness, but also of depicting the potentials that lie within microfinance. This should manifest itself in an increase in sources of funding available for microfinance development and support for inclusive economic growth.The final outcome that is expected from the Summit is the protection of microfinance clientele. The practice of client duplication not only provides inaccurate statistics regarding the range of the microfinance sector, but also increases the chances of loan defaults and the disruption of the client's way of life. Through efforts to increase the entrepreneurial skills of clients, it is hoped that they will be able to use their loans effectively and reduce the incentive to accept loans from other microfinance institutions.
The impact would result in the emergence of sounder microfinance institutions and networks, and a stronger microfinance support structures through updating national microfinance strategies to match international standards and procedures aimed at increasing the capacity for inclusive economic growth; broader support for microfinance saving schemes from the financial sector, private sector, and the international community; and creation of a framework structured at not only providing legal recognition towards community based projects, but also facilitating in the sustainability of microfinance projects. This, in turn, should help Nepal’s poor to gain access to affordable and sustainable micro-financial services.
At the end of the Summit, a joint declaration will be prepared which shall incorporate the suggestions of all participants on how to improve the microfinance sector in Nepal.
The Declaration will provide policymakers with feedback on how microfinance stakeholders envision the future of the sector and could be helpful to the government in preparing strategy papers and policies.
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