Institute of micro-finance and cooperative development.

CSD Celebrates Silver Jubilee Anniversary

On Shrawan 28, 2073 (August 12, 2016) promoters, individuals and institution members, former Board Directors, Microfinance Institution leaders and friends came together at the Hotel Yellow Pagoda, Kathmandu to mark the Silver Jubilee of the Centre for Self-help Development (CSD).

25 years ago, nine like-minded individuals came together to establish CSD with the aim of promoting self-help development at the rural community level through mobilization of local resources, skills and means and had initiated the community development programs in the high hillsides and microfinance programs in the terai belt. After promoting and handing over all microfinance activities to the Swabalamban Laghubitta Bikas Bank Ltd., CSD has been working as an institute of training and research focusing on the development of the microfinance sector.

Executive Director of CSD, Mr. Shanker Nath Kapali welcomed the esteemed guests and highlighted the progress and achievement of the organization.

The Chief Guest of the occasion Governor of the Nepal Rastra Bank, Dr. Chiranjibi Nepal inaugurated the function by lighting the traditional lamp, panas. A documentary charting two decades of CSD’s work was also showcased on the occasion.

Dr. Sumitra Manandhar Gurung, on behalf of the Governing Board, gave an introduction of CSDand highlighted its 25 years journey thus far. Former Director, Mr. Ram Kumar Shrestha shared his over two decades of work experience in the organization.

Deputy Governor of the Nepal Rastra Bank, Mr. Chintamani Shivakoti congratulated CSD on its journey so far and the admirable work it had undertaken for the benefit of the rural people.

On the occasion, the Chief Guest, Dr. Chiranjibi Nepalawardedtoken of appreciation to the sponsors of the National Microfinance Members’ Summit under the Gold, Silver and Bronze categories, and to the Promoters of CSD, former Governing Board Members and the retired staff of CSD. Dr. Nepal also launched the proceedings of the National Microfinance Members’ Summit during the program. Former Vice-Chairman of the National Planning Commission Dr. Rabindra Shakya presented his viewpoint on the report and said that the report was a wonderful documentation of the Summit and the participants’ opinion showed that the Summit was a very successful event and had marked a milestone in the history of microfinance in Nepal.

Addressing the gathering, Governor of Nepal Rastra Bank, Dr. Nepal said, “I once again laud CSD’s initiative in organizing Nepal’s first ever National Microfinance Members’ Summit and such a conference should be given continuity. Microfinance has played a major role in improving the socio-economic conditions of the poor, and has helped in improving their status, but now they must focus on the graduation of the microfinance members. Microfinance Institutions (MFIs) should not exploit the honesty and integrity of the poor by charging very high interest rates.” Dr. Nepal ended by saying, “CSD has played a pivotal role in shaping the microfinance sector right from the beginning until now. I wish you all success in your noble endeavor.”

Chairman of the ceremony, Mr. Shankar Man Shrestha, Chairman of the Governing Board thanked the Governor for gracing the Silver Jubilee celebrations and said, “Microfinance was started as the barefoot banking to the poor and we must not forget the essentials of microfinance. We must bring more credit plus services to our members. If there is any program that can generate self-employment, then it is the microfinance program. We have to slowly move our focus on the second generation of members.”

In the end, he announced that CSD will be awarding the most creative and innovative MFI with a cash prize of Rs. 50,000 from the coming year.

A vote of thanks was delivered by Ms. Shova Bharacharya on behalf of the Governing Board wherein she thanked the esteemed Chief Guest and guests for their presence, the speakers and to everyone who has supported CSD through its journey.