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Simplified Microcredit Services to Underserved Population

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Simplified Microcredit Services to Underserved Population

December 12: Machhapuchchhre Bank Limited (MBL), UKaid Sakchyam Access to Finance Programme (Sakchyam) and Heifer international Nepal signed a partnership on Tuesday (December 11) to provide simplified microcredit services to the unserved and underserved population of fourteen districts across Nepal.

CEO of MBL, Suman Sharma, team leader of Sakchyam, Nirmal Dahal and country director of Heifer International Nepal, Shubh Mahato along with other representatives from MBL, Sakchyam and Heifer International Nepal were present during the partnership signing ceremony.

According to a joint statement issued by the three organisations, MBL in strategic alliance with UKaid Sakchyam and Heifer International Nepal, will expand access to finance for women entrepreneurs and farmers in order to enhance their economic condition through the ‘Simplified Financial Services for Economic Empowerment of Women’ project.

During the program, MBL’s CEO Suman Sharma said that the bank will cater to the financial requirement of rural farmers, small and medium enterprises, other value chain actors and underprivileged group in 14 districts in order to enhance their livelihood ‘through this strategic alliance.

The aim of the project is to reach to more than 4,300 farmers, provide savings accounts to more than 3,000 beneficiaries, initiate financial literacy and awareness, maximize branchless banking (BLB) and introduce innovative credit assessment and delivery tools in form of Kishan Credit Card (KCC).

Machhapuchchhre Bank is providing its services across Nepal with a network of 86 branches, two extension counters and 39 branchless banking units. The bank has 107 ATMs spread all over the country.

Sakchyam is a UKaid-funded access to finance programme implemented by Louis Berger for DFID Nepal while Heifer International is working in Nepal as a sustainable development non-profit leader in smallholder agriculture.

 

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