11th December 2018, Kathmandu, Nepal – At an official program today, UKaid Sakchyam Access to Finance Programme (Sakchyam), Machhapuchchhre Bank Limited (MBL), and Heifer International Nepal launched its partnership to work towards providing simplified microcredit services to the unserved and underserved population of 14 districts across Nepal. CEO of MBL, Mr. Suman Sharma, Team Leader of Sakchyam, Mr. Nirmal Dahal and Country Director of Heifer International Nepal, Mr. Shubh N. Mahato along with other representatives from MBL, Sakchyam and Heifer International Nepal were present during this partnership signing ceremony.
Through the ‘Simplified Financial Services for Economic Empowerment of Women’ project, MBL in strategic alliance with UKaid Sakchyam and Heifer International Nepal, will expand access to finance for women entrepreneurs’ and farmers in order to enhance their economic condition.
Through this alliance, the bank will cater the financial requirement of rural farmers, small and medium enterprises, other value chain actors and underprivileged group in 14 districts in order to enhance their livelihood. The aim of the project is to reach more than 4,300 farmers, provide saving accounts to more than 3,000 beneficiaries, initiate financial literacy campaigns, maximize Branchless Banking services and introduce innovative credit assessment and delivery tools in form of Kishan Credit Card.
At the program, representatives from Karmath Social Entrepreneur Women’s Cooperative of Dang – one of the cooperatives where this initiative was piloted, were also present. They shared their experience on how the support from this programme has enabled the women of the cooperative to expand their business which has ultimately contributed to the betterment of their livelihood.
Sakchyam is a UKaid-funded access to finance programme. It is being implemented by Louis Berger for DFID Nepal, in partnership with local and international institutions. In its 5th year, the programme has reached more than 460,000 beneficiaries, mostly women, through its various interventions.
MBL is providing world class service all over Nepal from 86 branches, 2 extension counters and 38 branchless banking units. Bank has 106 ATM network spread all over the country.
Heifer International is working in Nepal as a sustainable development non-profit leader in smallholder agriculture. Till date, Heifer has supported more than 250,000 poor and vulnerable families in 41 districts of Nepal. Currently, Heifer has been working towards increasing access to finance for 226 women’s cooperatives in partnership with various banks and financial institutions in Nepal.