CENTRE FOR SELF-HELP DEVELOPMENT

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Leaders are Unanimous on the Effective Implementation of the Eleven Point Declaration of 3rd NMMS to Resolve the Current Crisis in MFIs

A review program was conducted on February 27, 2023 with the participation of the heads of MFIs to discuss the latest status and progress on the implementation of 11-point declaration of the Third National Microfinance Members' Summit (3rd NMMS) held on April 11-12, 2023.

Addressing the participants, Chairman of the Summit Organizing Committee Mr. Shankar Man Shrestha stressed that it is now a high time to focus on the purification, strengthening and refining of microfinance practices. He further said “The understanding of the declaration has not been widened among those working in the field. We have to discuss it and make entrepreneurship development an integral part of microfinance practice to raise the living standards of the poor and disadvantaged groups. The spirit of the slogan of 3rd NMMS ‘Expand Enterprise to Each Household and Reduce Poverty to Zero’ has to reach every household of the members. No matter how many problems there are now and the news that has come out we have to focus on our duty. It has been clear that so far microfinance has focused on only loans to members and has not taken initiative to make members entrepreneur and productive citizen. The utilization of loan and its impact on the members' lives have not been properly monitored. We should not force the members for repayment specially who have no income to repay at the present situation. Employees should also be taught better about how to behave with members and how to be concerned with raising their income. CEOs should visit the branches once a month and observe the real condition of the members and the working modality of the staffs. We should regain the image of microfinance. For this, we should go through the declaration of 3rd NMMS and its spirit” He further added.

On the occasion, the representatives of the participating organizations shared the progress made on the implementation of the declaration. Speaking on the occasion, Executive Director of the Unique Nepal Laghubitta Bittiya Sanstha Ltd. (UNLBSL) Dr. Gopal Dahit said that the 11-point declaration was passed by the Board of Directors of his organization and the main slogan of the conference was given priority in every program of UNLBSL. He further informed that the activities related to entrepreneurship development has been included in UNLBSL's five-year plan and its implementation has been already started. He also informed that the regional Microfinance Members’ Summit will be organized within the month of May, 2023 in partnership with MFIs of Lumbini and Karnali provinces.

Mr. Dambar Bahadur Shah, General Manager of the Kisan Multi-Purpose Cooperative Limited (KMCL) informed that KMCL is working with 3 Zero clubs and Self-help Eco-village development, and promoting entrepreneurship among school going children. He also informed that they have organized a cooperative education program recently with the aim of sharing the importance and impact of microfinance among approximately 73,000 women members.

Mr. Sanjay Kumar Mandal, CEO of the Jeevan Bikas Laghubitta Bittiya Sanstha Ltd. informed that the first Regional Microfinance Members' Summit of Koshi Province has been successfully conducted with a 14-point declaration and an action plan has been formulated in line with this. He further added that the microfinance institutions should now find out the condition of all the members, classify them and treat them according to their needs.

Similarly, Ms. Bimala Yogi, CEO of the Jalpa Samudayik Laghubitta Bittiya Sanstha Ltd. said that the message of the 3rd NMMS had a positive impact on the members, society, work of the employees and also social and institutional governance. She further added that according to the purpose of the Summit, Jalpa Samudayik has started to provide entrepreneurship development services and financial literacy training to all of its members and currently focusing on promotion of their production like honey, milk, mustard and local rice.

Ms. Sharda Pokharel, CEO of the Upakar Laghubitta Bittiya Sanstha Ltd. informed that her organization has started collaboration with the schools for entrepreneurship development among the students, formation of 3 Zero clubs and has started a self-help eco-village development program. In addition, she said that details of each member and their concerned enterprises are being prepared in each branch to identify the condition of member clients.

There were 48 representatives from microfinance institutions participated in the review program.

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