Orientation Workshop for Banks and Financial Institutions for Earthquake Fund Distribution

June 2, 2016

A workshop was organized at the Nepal Bankers’ Association office in Thapathali to help orient banks and financial institutions using their branch offices to distribute funds for housing reconstruction in earthquake affected districts, regarding the distribution process. The workshop also included plans for financial literacy initiatives to be rolled out alongside the distribution process for the beneficiaries. Most members of the communities will have bank accounts opened for the first time and proper financial literacy can allow for the extended use of these accounts for purposes beyond the relief payments.

The workshop was organized in partnership with the Nepal Bankers’ Association, Development Bankers’ Association Nepal and Nepal Financial Institutions Association, who are supporting National Reconstruction Authority in using banking channels to distribute housing reconstruction grants in a secure and transparent manner. The financial inclusion of these communities will introduce them into the larger formal financial sector and enable them to enjoy a rage of financial services offered by the banks and financial institutions.

As of June 1, 2016, more than 40 Banks and Financial Institutions have signed individual contracts with the National Reconstruction Authority to use the branch offices of their institutions in the 11 districts affected the most by the April 25, 2015 earthquake. The signing of these contracts as well as the workshop will lead to the beginning of the fund distribution.