Institute of micro-finance and cooperative development.

CSD 25th Annual General Meeting

CSD held its 25th Annual General Meeting (AGM) on Sunday October 23, 2016 in a homely atmosphere at its training hall in Kathmandu. It was attended by 7 Individual Members and 20 Institutional Members.

The meeting was chaired by Mr. Shankar Man Shrestha, Chairman of the Governing Board of CSD. On the occasion, Executive Director Mr. Shanker Nath Kapali welcomed the delegates and presented brief highlights on CSD's progress.

Chairman Mr. Shrestha presented the comprehensive report on CSD's progress, achievement and future programs and strategies on behalf of the Governing Board. There were positive discussion on various issues related to microfinance research, study and capacity building of MFIs. Mr. Mani Aryal of Nerude Laghbitta Bikas Bank Ltd. and Mr. Uday Raj Khatiwoda of Swarojgar Laghubitta Bikas Bank Ltd. pointed out the need of more MFIs internal exposure visit in Nepal. They said there are many facts of Microfinance that we can learn from each other. Mr. Aryal suggested to organize internal exposure program for some politicians and media persons to educate them as how microfinance has brought changes in the economic level of the poor people. Mr. Narayan Joshi, Chairman of Solve Nepal thanked CSD for its role to address the burning issues of microfinance especially for conducting the National Microfinance Summit. He said "Microfinance has not adequately focused on the poorest and deprived despite its claim of reaching 2 Million household and that most of the ultra poor have been forced to live on deprivation and pitiable conditions. MFIs have overloaded them and focusing more on easy to reach families".

The meeting passed CSD's Balance Sheet and Profit and Loss Account of fiscal year 2015/16 and reappointment of Mr. Sujan Kafle as the Auditor of CSD for the next financial year 2016/17. The meeting also unanimously elected seven members to form the new Governing Board of CSD. They are Mr. Shankar Man Shrestha, Dr. Sumitra Manandhar Gurung and Mr. Ram Kumar Shrestha from the individual members and the Jeevan Bikas Samaj, Morang, Manushi Nepal Kathmandu, Nepal Mahila Samudayik Sewa Kendra, Dang and Srijana Bikash Kendra,Kaski from among the institutional members.

At the end Mr. Yogendra Mandal thanked all the members for their contribution and support for making CSD an effective network organization of microfinance in Nepal. He cautioned all members to be vigilant to control the deviations being occurred in different forms to keep microfinance safe, responsible and sustainable business.