DFID Permanent Secretary Meets Sakchyam Partners and BeneficiariesSeptember 4, 2019
Matthew Rycroft, Permanent Secretary, DFID UK who is in Nepal on an official visit, met with the representatives of six partner organisations of UKaid Sakchyam Access to Finance, working in Province 5. In the interactive session held in Butwal, Rycroft made inquiries about the impact of UKaid’s support to Nepal’s financial sector, and market opportunities and challenges being faced by the financial service providers in Nepal. The participating partner organisations included commercial banks, microfinance institutions (MFIs) and fintech companies.
After the meeting, Rycroft visited the home of Devi Shrestha, a beneficiary of Sakchyam’s partner MFI Janautthan Laghubitta Bittiya Sanstha Limited to observe the impact of Climate Resistance Technology (CRT) to small enterprises. The partnership project between Sakchyam and Janautthan provides financial services – credit facility et al – to Small and Medium Enterprises (SMEs) and households to purchase appropriate CRT products that can be used to create or expand businesses and income-generating activities.
Shrestha bought a solar-powered dryer with the Energy Loan from Janautthan to enhance the production capacity of her food processing business. During the visit, Shrestha explained the production process using the solar-dryer and shared the positive impact of the use of an alternative energy-driven machine to her business.
Rycroft also met with three other Janautthan clients who had purchased e-rickshaws through Energy Loan and their husbands who are using the rickshaws. The couples shared how owning e-rickshaws have added to their income source, in turn, helping elevate their financial status. Before purchasing the rickshaws the men used to ride rickshaws on rent, which meant they had to pay almost half of their daily income to the owner of the rickshaw.
A team of DFID Nepal including Cynthia Rowe, Team Leader, Governance and Service Delivery Team; Nathanael Bevan, Deputy Head and Rabi Rayamajhi, Private Sector Development Advisor were also present during the event. From Sakchyam, Team Leader Nirmal Dahal and Challenge Fund Manager Shasi Wagle took part in the event. The partner organisations who attended the meeting were Janautthan Laghubitta Bittiya Sanstha, Machhapuchchhre Bank, Sanima Bank, eSewa Fonepay, IME Digital and Mahila Samudayik.
Read more about Sakchyam’s partnership with Janautthan here.