I feel greatly privileged at this moment to have an opportunity to forward this message as a founder chairperson of another Microfinance Institution – NADEP Laghubitta Bittiya Sanstha Limited promoted by DEPROSC Nepal, Nabil Bank Limited , Lumbini Finance and Leasing Company Limited and other promoters. A savings and credit program implemented covering around 1000 members in four VDCs by an International Development Organization under the welfare approach has been taken over and developed as a national level microfinance institution covering around 45000 clients. This gives immense pleasure and satisfaction, however took some 18 years.
This brings me back early 50s when we all struggled hard to establish and institutionalize government initiated microfinance program i.e. Small Farmers Development Program (SFDP) to enhance the access of poor to financial services. Today, we have been able to provide financial services to more than two million populations with the establishment of 68 microfinance institutions (41 Microfinance Development Banks and 27 Financial Intermediary Non Governmental Organizations) in Nepal.
Now, the challenge is not the quantities growth in coverage but to provide an inclusive microfinance services in a qualitative manner particularly in the remote hills and mountains. Generally, Portfolios need to be diversified and clients need empowerment as well as protection to attain the rural economic growth. At this moment, we all microfinance practitioners should work collaboratively to win the virtue of prosperity. And, we are one with this commitment.
Thank you.