Institute of micro-finance and cooperative development.

CSD Convenes its 26th Annual General Meeting

The pioneer microfinance institution of Nepal, the Centre for Self-help Development (CSD) convened its 26th Annual General Meeting on October 8, 2017 amidst its members, both individual and institutional, and guests.

Executive Director of CSD, Mr. Shanker Nath Kapali welcomed the distinguished guests and members to the AGM and highlighted the 25 years plus service of CSD in empowering the poor and women of Nepal through microfinance.

The meeting was chaired by Mr. Shankar Man Shrestha, Chairman of the Governing Board who presented a brief report on the progress and financial statements of the Centre as well as its future strategies. In the current Fiscal Year CSD will organize a number of training programs, workshops and conferences. Additionally, the Centre will undertake research and impact study on topics related to microfinance. A Sub-committee of experts has been formed to conduct the evaluation for the ‘Microfinance Entrepreneurship Award’ that will be presented to the member organization that best develops its members as micro-entrepreneurs.

Speaking from the Chair, Mr. Shrestha said, “Microfinance has achieved immense success over the years and currently serves over 20 lakh families. However, microfinance service providers are drifting from the true objective and mission of microfinance and are involved in unhealthy competition which inadvertently affects the quality of microfinance services. You are requested to be alert and aware of the repercussions that these digression can result in.” He further added, “As the Centre has taken up the responsibility of publishing a Country Report on the State of Microfinance, I request all MFIs to cooperate with us and provide us with the data required to complete the report. We hope to bring out a report that illustrates the true picture of microfinance in Nepal. We look forward to your timely cooperation in this regard.”

The members of the AGM passed the Balance Sheet and Profit & Loss Account of the FY 2016/17 and agreed to appoint Mr. Sujan Kafle and Associates as the Auditor for the next FY 2017/18.