Schemes to expand access to finance
Feb 12, 2015-DFID Sakchyam Access to Finance Programme, Global IME Bank Limited (GIBL) and Bank of Kathmandu (BoK) jointly announced two new schemes to expand rural farmers’ access to finance in Mid- and Far-western regions.
GIBL launched the “Sakchyam Post Harvest” financing, while BoK introduced “Sakchyam Sana Kisan Ukhu Karja”.
GIBL’s product, developed in partnership with Gyan Agri, will be implemented in Banke, Bardia, Kalilali, and Kanchanpur, while the BoK’s product offers farmers loans up to 70 percent of the value of crops sold to Mahakali Sugar Mill immediately upon delivery. The three-year project aims to provide funds to farmers when they need it the most and help banks initiate a relationship with previously “un-banked” people.
“The Sakchyam Post Harvest financing programme will be able to provide farmers secured storage and an opportunity to gain from future prices rises,” said GIBL CEO Ratna Raj Bajracharya.
BoK CEO Ajay Shrestha said the “innovation” would take them a step closer towards the goal of providing timely access to credit to marginalised and disadvantaged segments of our country.
Ashufta Alam, Team Leader of DFID’s Economic Development Team, said the partnerships was just the beginning of a new era of several such innovations.
Sakchyam is a programme funded by the UK government and implemented by Louis Berger in collaboration with local and international institutions.
Published: 12-02-2015 09:14