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Experience Sharing of Grameen Bank Bangladesh with Nepali Microfinance Institutions on the Problem Created by the Corona Pandemic and It’s Solution

The Centre for Self- help Development (CSD) organized a virtual webinar on “Sharing Grameen Bank Experience on Managing Impact of COVID 19 Pandemic and Post COVID Programs” on 20th January 2021 (Magh 7, 2077). The webinar was organized to address a wide range of subjects pertaining to the microfinance caused by the Corona pandemic COVID 19).

The guest speaker of the webinar Mr. Golam Morshed Mohammed, Assistant General Manager and Chief of International Program Department of Grameen Bank, Bangladesh mentioned that during the corona pandemic Grameen Bank members have also been facing both economic and social problems. He said that the income had decreased due to the halt in the production and trade of the enterprises and businesses of the members and that had led to various problems in the society. In order to solve such problems, Grameen Bank has been in regular communication with its members and has provided various types of relief packages (financial and food items) to encourage and to provide psycho-counseling.

Consequently, he further said that the Corona pandemic has also risen social problems such as increase in school dropout of children, increase in early childhood marriage, increase in unemployment, increase in poverty, increase in domestic violence, crisis in food security. In lieu to address these unexpected circumstances the Grameen Bank has formulated a clear policy and action plan for the rehabilitation of its valuable members. He added that the repayment rate has improved to 96 percent from 60 percent due to this scheme.

The guest speaker Mr. Golam also advised that MFIs should move ahead by formulating an action plan for the solution of the problems caused by the Corona Pandemic (COVID-19) in the Microfinance Institutions (MFIs) and also for the rehabilitation of the enterprises and businesses of the members. The members of the microfinance sector and the target group should be included in the action plan while formulating the action plan.

Chairperson of the webinar, and the chairman of CSD Mr. Shankar Man Shrestha, said that the work done by Grameen Bank, Bangladesh during the Corona pandemic was worthy of imitation as most of the microfinance institutions in Nepal are following Grameen model. Mr. Shrestha also argued that every microfinance institution needs to have a clear action plan. It is important to reach out to its members and take steps to solve their problems." He added that it is time to provide psychological energy like Grameen Bank to the members without putting pressure on them. Mr. Shrestha also suggested to all the participants of the webinar to identify the problems according to its severity and impact on their members as well as on the organization. Also adopt an in site discussions with staff at head office and with field level to understand and formulate appropriate remedial measures.

On the occasion, Dr. Gopal Dahit, Executive Director of Unique Nepal Laghubitta Bittiya Sanstha Ltd., opined during his expression of vote of thanks “In Nepal MFIs are currently facing problems in collection, capital management and holding regular central meetings and is working hard for this. He said that Grameen Bank's experience is comprehensive, important, and worthy of guidance for solving such problems.” Dr. Dahit added that such webinars should be held regularly in the coming days.                                                                                                                            

The Executive Chief of CSD, Mr. Bechan Giri welcomes the participants and highlighted on the objectives of the webinar. During his welcome speech he said that the Grameen Bank, Bangladesh is the pioneer of modern microfinance and has laid an iconic foundation in the path of employment generation especially among destitute needy poor community through easy access of finance. He further cited that Grameen Bank has also been playing a pivotal role during the corona pandemic to overcome the challenges arisen by this epidemic in its staffs as well as in members. The ways adopted by the Grameen Bank would help to Nepalese MFIs in the pace of solving their staffs and members issues.

On the presentation of Mr. Golam Morshed Mohammed of Grameen Bank, among the participants of the webinar Mr. Bishal KC, Chief Executive Officer of the Bouddha Gramin Bahuuddeshyiya Sahakari Sanstha Ltd., Ms. Padmasana Shakya, Chairman of the Manushi Laghubitta Bittiya Sanstha Ltd., Mr. Bhim Bahadur Bhandari, Chairman of the Pioneer Bahuuddeshyiya Sahakari Sanstha Ltd., Mr. Sanjay Mandal, Chief Executive Officer of Jeevan Bikas Laghubitta Bittiya Sanstha Ltd., Ms. Nirmala Acharya, Chairman of Mahila Sahayogi Bachat Tatha Rin Sahakari Sanstha Ltd. and Deputy Chief Executive Officer of Muktinath Bikas Bank Ltd. placed their quarries on the measures taken by the Grameen Bank, Bangladesh to mitigate challenges of corona pandemic. The webinar was attended by 30 Chairmen, CEOs, General Managers and DCEOs of different Nepalese MFIs, Cooperatives and Development Banks. The webinar was moderated by Mr. Satish Shrestha, Director of the Centre for Self-help Development.

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