Third National Microfinance Members’ Summit Concludes « Rural Women Development Center
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Third National Microfinance Members’ Summit Concludes

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Kathmandu: Third National Microfinance Members’ Summit has concluded in Kathmandu, Durbarmarg at hotel Yak and Yeti on April 12, 2022, Tuesday with a slogan to reduce poverty to zero by inducting entrepreneurship in every household, the slogan of the summit was literally, “Ghar Ghar Ma Laghuudhyam Bitraun, Garivi lai Sunyama Jharaun”

The Summit was attended by more than 700 members of national, sub-national, or regional micro finances, and cooperatives, their members, chief executive officers from across the nation. The Center for Self Development (CSD) led by Shankar Man Shresth coordinated the event, while Shrestha also presided over the massive function in Yak and Yeti hotel.

The opening ceremony was formally inaugurated by the current governor of Nepal Rastra Bank Dr. Nilam Dhungana Timilsinha. Various other distinguished guests from Nepal Rastra Bank, previous bankers, members of the planning commission, and experts in microfinance services had also attended the summit and graced the occasion by delivering meaningful presentations on their respective themes related to microfinance and ways to cope up with the reduction of poverty.

The first session of the day was comprised of presentations by microfinance experts/CEO of various microfinance organizations about the scope and challenges of current microfinance.

The second session showcased the expression of sentiments and personal experiences of small entrepreneurship provided by Microfinance and cooperatives towards ending poverty and promoting small enterprises in the country.

The data presented in the session revealed that there are nearly 6 million members of microfinance who are mostly women members from across the country.

The data also informed that microfinance services have been employing more than 25000 employees as workers in the whole country.

The various presentations revealed that microfinance services should be improved in the days to come so that challenges could be resolved.

On the second day, four various sessions were held separately in separate halls on separate themes. One of the sessions was on how to reduce poverty using three zero concepts propounded by Bangladeshi Professor Yunis.

This session was moderated by Rural Women Development Center -RWDC or Gramin Mahila Utthan Kendra chair and the promoter of Aatmanirbhar Laghubitta Bittiya Sanstha Ltd Mrs. Aasmani Chaudhary, while the concept papers were presented by microfinance resource persons such as Bishal KC (CEO of Boudha Agriculture Multi loan cooperative)  and Sanjay Kumar Mandal (CEO of Jiwan Biksash Laghubitta) on the “Role of Microfinance in reducing poverty”.

The gist of the presentations and sharings from the questions and answers session from the microfinance members present in the hall was presented by the RWDC chair Aasmani Chaudhary in the second session moderated by the former governor of Rastra Bank Chiranjivi Nepal.

Aasmani Chaudhary stated that in order to reduce poverty first of all microfinance members should take the benefit of the government facilities available now.

Secondly, they (clients or members )must indulge in setting up anyone entrepreneurship for self-reliance and income generation.

Thirdly, the members should at least go through financial literacy training and learn one skill for better performance. Fourthly, the hardcore poverty-stricken people should be given priority in providing them the smaller loans to do something as per their will.

Finally, the government’s monitoring agencies should also take into consideration framing new financial policies that can positively impact the people of hard-cored poverty in the country.

The two days summit concluded on Tuesday, April 12, 2022, with the concluding remarks of Shanker Man Shrestha.

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