Sakchyam Supports RMDC to Open its First Branch Office in Kohalpur: Dedicated Support for Wholesale Lending and Capacity Building of Micro Finance Institutions in the Mid- and Far- Western Regions Now a Reality

February 21, 2017

February 19, Kohalpur, Nepalgunj – Rural Micro Finance Development Centre (RMDC), with support from the UKaid funded Sakchyam Access to Finance Programme (Sakchyam), has successfully opened a new branch office in Kohalpur, Nepalgunj. The branch was inaugurated by Executive Director of Nepal Rastra Bank (NRB) Mr. Upendra Kumar Paudel where Mr. Raman Nepal, Director of NRB and Member of the Sakchyam National Steering Committee, RMDC’s CEO Mr. Jyoti Chandra Ojha and Sakchyam’s Team Leader Mr. Baljit Vohra were also present.

RMDC — one of the prominent wholesale lending institutions to Nepal’s Micro Finance industry— and the UKaid Sakchyam Access to Finance Programme signed a partnership back in November 2016 to further their common objectives to improve rural poor communities’ access to financial products and services in thirty-four districts.  With UKaid Sakchyam’s support, RMDC launched its first branch outside of Kathmandu to increase outreach to communities through its partnership with Micro Finance Institutions (MFIs) in the Mid- and Far-Western regions.

Speaking at the event, Mr. Jyoti Chandra Ojha, CEO, RMDC said, “This branch will work as a delivery channel to provide wholesale loans and to build capacity of MFIs in the region. RMDC will on-board new MFIs as well as work with its existing MFI partners to enhance financial capability of an increasing number of beneficiaries in rural communities.”

Similarly, Team Leader of Sakchyam Mr. Baljit Vohra opined, “This branch is part of Sakchyam’s plan to support RMDC to open two separate regional offices in strategic locations so that it can reach more remote districts and on-lend to up and coming new MFIs in the underserved areas of the mid and far west . We are hopeful that newer clients from extremely rural communities can now be better reached through RMDC’s MFI on-boarding programme, and improve their economic status through access to a new range of financial products and services.”

Emphasizing on the outreach and capacity building component of the partnership, Executive Director of NRB, Mr. Upendra Kumar Paudel expressed, “This partnership is also expected to enhance the capacity of newer MFIs by providing them with mentoring and capacity building support, and thereby enabling them to access wholesale loans from RMDC.  And we are glad that RMDC is now taking its services nearer to the communities it wishes to serve in the coming future.  Such a partnership will definitely foster NRB’s goals of financial inclusion.”

Sakchyam is a UKaid funded Access to Finance programme implemented for DFID Nepal by Louis Berger. It is being implemented in Nepal in partnership with local and international institutions.