Institute of micro-finance and cooperative development.

Bauddha Grameen MP. Co-operative Ltd., Surkhet Concludes its 16th AGM in Grand Manner

On October 3, 2016 (Ashwin 17, 2073) Bauddha Grameen Multipurpose Co-operative Ltd. (BGMCL), an Institutional Member of CSD, conducted its 16th Annual General Meeting in the midst of members, guests, Board Members and staff. The gathering was an august occasion where Chairman of CSD, Mr. Shankar Man Shrestha was the Chief Guest of the ceremony. The program was chaired by Mr. Pancha Singh Rokaya, Chairman of BGMCL.

Bauddha Grameen Multipurpose Co-operative Ltd. has been serving the poor and backward communities in the far flung, remote and hilly regions of mid-western Nepal since the year 2000. It was founded by 25 individuals of the Khampa community to provide saving and credit services to the poor and tribal communities who migrated from Jumla and Mugu districts to Surkhet. However, later in 2006 it commenced its microfinance program and extended its membership to all participating members which in the present day represent over 30,000 members from Surkhet, Dailekh and Jajarkot districts.

The program took place in Birendranagar, Surkhet where a host of BGMCL family and well-wishers were present to witness the progress of the organization and to show support in their endeavors. Four MF women member representatives also shared their experiences after joining the MFI before the forum. The Secretary of the organization, Mr. Pasang Mahatara presented the progress of the organization. It highlighted that as of July 15, 2016, BGMCL had 34,238 members, loan outstanding amount of NRs. 639,834,766, savings amount of NRs. 272,138,627 and profit amount of NRs. 16,418,440.

Speaking on the occasion as the Chief Guest, Mr. Shankar Man Shrestha congratulated the Board, management and staff for reaching great heights during its journey. Mr. Shrestha said, “Microfinance has been moving forward at a fast pace in the last decade. Ours is a home grown sector, where we do not have to depend on external assistance. Microfinance has given tremendous opportunities to the neglected, especially women, empowering them both financially and socially.” He also cautioned the gathering saying, “The Microfinance principles must not be forgotten. As we grow, our problems and challenges have grown. We must now focus on strengthening our members and providing opportunities to the unemployed youth in our communities. Microfinance has the power to revolutionize the country’s development and we must capitalize on it. The organization should focus on the poorest of the poor residing in the interior of the covered districts and attempt to target the unemployed youth for their self-employment through entrepreneurship training and required credit.”

Chairman of BGMCL, Mr. Pancha Singh Rokaya addressed the mass recalling the earlier days of the organization. He said, “Today, the Cooperative sector has brought about a revolution in the country.” He acknowledged the role of the Chief Guest, Mr. Shrestha in encouraging them to stand on their own feet and become self-reliant, instead of depending on external assistance and aid. Mr. Rokaya further mentioned, “We must learn to become independent and do things for ourselves and our community. In the coming days we hope to improve the health facilities for our members by opening a hospital. Also, we will encourage higher education for the children of our members by awarding scholarship to the deserving candidates.”

On the occasion, the organization recognized and awarded its best performing loanees, members with highest savings, best staff and best branch. Cultural programs providing a glimpse of the culture and community native to the district made the event lively and colorful. The event was a celebratory occasion, celebrating both the journey of Bauddha Grameen MP. Coop. Ltd. and the members who have been an integral part of their journey.