The Centre for Self-help Development (CSD), which is one of the pioneer institutions to launch microfinance in Nepal, convened its 28th Annual General Meeting on December 13, 2019. The Executive Chief of CSD, Mr. Bechan Giri welcomed the esteemed members and guests of the AGM.
On the occasion, the Chairman of the Governing Board, Mr. Shankar Man Shrestha, presented the annual report of the F.Y. 2075/76 on behalf of the Governing Board.
The members unanimously approved the report and Balance Sheet as well as Profit and Loss Accounts of F.Y. 2075/76.
Mr. Shrestha said," Although the objective of microfinance is to alleviate poverty, it is now getting more concerned on profit maximization. Due to liberal policy of Nepal Rastra Bank, there has been rapid quantitative growth of institutions but very little attention is given to quality service of microfinance institutions.” The report mentioned that in the F.Y. 2075/76, CSD organized 20 training programs, 5 workshops, 5 national and international exposure visits with a total of 30 programs benefitting a total of 1464 officials, staff and clients of various organizations. He added, “Microfinance institutions should focus their programs for benefitting the poor without compromising on the principles and values of microfinance.”
He also highlighted that CSD in collaboration with the Centre for Rural Technology, Nepal initiated environmental friendly self-help village approach in the villages covered by microfinance operators. The meeting decided to establish self-employment training center to develop entrepreneurship among the youth and create self-employment in partnership with its institutional members. Similarly, it also unanimously agreed to establish Yunus Social Business Centre to promote social business concept in Nepal.
The meeting also endorsed the proposal of Mrs. Shanti Shrestha to contribute Rs. 10 lakh to establish a fund to provide an award of Rs. 1 lakh to an individual or institution that had made outstanding contribution to the upliftment of socio-economic condition of the poorest or the disadvantaged community. The award will be named after Mr. Shankar Man Shrestha. Similarly, CSD and Mr. Lumin Kumar Shrestha decided to contribute Rs. 10 lakh and Rs. 5 lakh respectively to the fund.
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