The first National Microfinance Members’ Summit Monday
concluded by adopting a 16-point declaration.
The declaration announced to include the ultra-poor in
the microfinance campaign and develop action plan to realize this goal.
“The microfinance will extend their services to the
remote and rural areas, and formulate strategies to inspire the members to be
micro-entrepreneurs by providing training for skill development and creative
works,” read the declaration.
The summit declared to stop the practice of mobilizing
loans without evaluating the customers’ necessity and capacity to repay. It
announced to set appropriate and sustainable interest rate that would not
create burden on the side of customers.
As the number of microfinance banks was more than
sufficient for the country, request would be put to stop licensing microfinance
institutions except financial intermediary non-governmental organizations
(FINGOs) which are currently in operation, read the declaration.
The declaration has announced to expand health
insurance programme all over the country, and initiate a separate company for
the micro-insurance programme.
Legislature-Parliament’s Development Committee
Chairman Rabindra Adhikari stated that microfinance services should be promoted
as it was promoting entrepreneurship as well as helping in reduction of poverty
and empowerment of women.
“There are very few economic opportunities for the
poor. Therefore, the government should study business potential for the
micro-entrepreneurs, promote their products and help in financing,” said
Adhikari.
Shiva Raj Shrestha, deputy governor of the Nepal
Rastra Bank, said that the microfinance would be more effective if there was
skill development training for their members.
Damodar Bhandari, State Minister for Ministry of
Finance said that the declaration of the summit would be an important learning
for the government. “The government would try to address the demands that the
summit has put forth,” he said.
Shankar Man Shrestha, chairman of the Organizing
Committee, said that Nepalese microfinance has become a model for other
countries.
The conference was organized
by the principal Microfinance Institutions (MFIs) and co-ordination of the
Centre for Self-Help Development (CSD).
Forty-one microfinance banks, 25 non-government organizations
and about 100 cooperatives are offering microfinance service across the
country. They altogether are catering service to 1.8 million families.
uggested discouraging the practice of obtaining loans
from more than one microfinance institutions.
About 22 female microfinance
members shared their experience with the microfinance services.
The conference is being
organized by the principal Microfinance Institutions (MFIs) and co-ordination
of the Centre for Self-Help Development (CSD).
Forty-one microfinance banks, 25 non-government organizations
and about 100 cooperatives are offering microfinance service across the
country. They altogether are catering service to 1.8 million families.
According to the latest data,
about Rs. 300 billion loan was mobilized by the microfinance institutions and
the repayment rate was 99 per cent.
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