CENTRE FOR SELF-HELP DEVELOPMENT

Institute of micro-finance and cooperative development.

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CSD Celebrated its 31st Anniversary

The Centre for Self-help Development (CSD) which is the pioneer NGO in microfinance sector celebrated its 31st anniversary on 13th August, 2022 (Shrawan 28, 2079). During the occasion, Chief Guest, Former Governor of Nepal Rastra Bank Mr. Dipendra Bahadur Kshetry and Chairman of CSD, Mr. Shankar Man Shrestha jointly released the Proceedings of the 3rd National Microfinance Members’ Summit which was held on April 11-12, 2022 in Kathmandu.

Speaking in the occasion the Chief Guest of the function Mr. Dipendra Bahadur Kshetry expressed his hearty congratulations to CSD for completing its 31st years of services towards the deprived and disadvantage sector of the population and lately working as the network of MFIs and Microfinance Cooperatives. He said “For the past 31 years CSD has been working down at the grassroots level to uplift lives of the poor by understanding the actual problems of the poor and direct implementing programs to raise their economic condition.”

Mr. Kshetry suggested that MFIs should focus on the poverty reduction with the organized way. “After working over 3 decades, we need to update the database on the population that has been alleviated from poverty. MFIs do not have any record of how many poor families have been upgraded from the level of poverty. Just giving loan will not serve the purpose. We have to be serious and honest to our mission and fulfill our duty with integrity so that we can bring the poverty to zero level.”

Addressing the gathering, Chairman of CSD, Mr. Shankar Man Shrestha said, “CSD initiated its activities from the remote districts of Jumla and Kalikot of Nepal. I still reminisce the initial days of CSD where we facilitated the locals in mobilizing savings and local resources for their own self-reliance. Initially they felt even the poor can't do save, but later they collected so much savings which they could not use all for their economic activities.” He said “Microfinance sector in Nepal is running in crisis at the moment, we are disbursing loan with blind folded thinking about the gross profit by overlooking possible harm to the clients as well as the institution themselves in the future. We are slowly losing our way, if we don’t realize our mistake and correct it, a big chaos is imminent. Those who think of changing the world, first must change oneself. We are becoming more concern of our own personal benefit, than that of the society.”

In the occasion the Treasurer of the Governing Board of CSD, Ms. Shova Bajracharya said “The way we visualized microfinance in Nepal could not be materialized because we are deviating from our mission and philosophy. We are tending to shift out paradigm. We are more centered around profit and destroying the poor with over indebtedness. It is in our hands to build a better future for our members and the microfinance sector as a whole.”

Speaking on the occasion Chairman of Nepal Microfinance Banker’s Association, Mr. Prakash Raj Sharma said “According to the Government of Nepal, to alleviate poverty in Nepal microfinance sector has played a very significant role. We need to identify our strengths and weaknesses in improving our services to the poorest of the poor. The real scenario of the prudent data of the microfinance institutions should be shown in the report of the Nepal Rastra Bank. The problems should be transparent so that there can be a solution rather than just covering it up.”

On the occasion, founder members of the CSD, Mr. Ganesh Ram Shrestha and Mr. Lumin Kumar Shrestha expressed their heartily congratulations to CSD for being able to celebrate 31 years of its glorious performance. They also said they are proud of being a part of CSD family. They wished for the better success in the future endeavors of the CSD.

The program was attended by the founder members of CSD along with individual members, representatives of institutional members and other dignitaries of different organizations.

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