Kathmandu, Aug 29: A Memorandum of Understanding (MoU) was signed between the Nepal Federation of Savings and Credit Cooperative Unions Ltd Nepal (NEFSCUN) and UKAid’s Sakshyam Project on Monday to enhance access to finance in the rural areas.
Chief Executive Officer of NEFSCUN Shivaji Sapkota and Sakshyam Project Team Leader Baljeet Bohra signed the MoU on ‘”Enhancement of Financial Access of Community through Capacity Development of Financial Cooperatives Programme” in the capital on Monday.
The programme aims to help increase financial and institutional capacity of the savings and credit cooperatives operating in 10 districts of mid and far western regions, shared CEO Sapkota. The programme would render collective lending services to people in Kailali, Dadeldhura, Doti, Baitadi, Kanchanpur, Rolpa, Pyuthan, Dang, Rukum and Salyan districts.
On the occasion, NEFSCUN Chairperson Rishiram Ghimire said that the cooperatives’ collective lending approach would significantly contribute to the expansion of access to finance in rural areas of Nepal.
Also speaking at the programme, Sakshyam Team Leader Bohra noted that the initiative would contribute to the empowerment of rural Nepali people through their enhanced access to financial services. The project would provide loan worth Rs 6 billion to 30,000 members of 200 cooperative institutions.