One of the pioneering institutions to provide microfinance services in Nepal the first licensed NGO, the Centre for Self-help Development (CSD) celebrated its 27th Anniversary at a function organized in Alpha House, New Baneshwor. Honorable Finance Minister Dr. Yuba Raj Khatiwada graced the occasion as Chief Guest and inaugurated the program by lighting the panas.
The program was chaired by the Chairman of CSD, Mr. Shankar Man Shrestha and attended by the members of the Board, representatives of the institutional and non-institutional members and guests. Delivering the welcome address, Mr. Bechan Giri Executive Chief of CSD highlighted the achievements of CSD during the past 27 years. One of the board members Dr. Sumitra Manandhar Gurung on behalf of the Governing Board shared her experience of CSD.
Dr. Gurung said, “The main aim of CSD was to develop self-dependence among the people. It started through community development programs in the Hill region and then started its saving and credit activities. Now, CSD is focused in capacitating the Board Members and staffs of various MFIs by conducting microfinance related trainings, seminars and exposure visits.”
The program also included the presentation of the ‘Entrepreneurship Development Award’ to CSDs institutional member that best carried out entrepreneurship development work. The coordinator of the Evaluation Sub-committee and CSD Board Member Mr. Ram Kumar Shrestha discussed the selection criteria of the award. It was awarded to Batabaran Sudhar Bahuuddeshiya Sahakari Sanstha Ltd., Surkhet and the cash prize of rupees one lakh and certificate was handed by the Chief Guest.
A Book on ‘What we can learn from the Grameen Bank’ was launched by the Chief Guest, Dr. Yuba Raj Khatiwada. The book comprises of the learnings from the ‘International Program on Grameen Financial System’ held in joint collaboration with Grameen Trust, Bangladesh from June 8-9, 2018.
Addressing the gathering Dr. Khatiwada said, “I want to start by congratulating the winners of the Entrepreneurship Development Award. Just a few days ago, the World Bank had congratulated Nepal’s progress in poverty reduction. However, poverty levels differ between the Nepal’s cities and villages. The socio-economic transformation of a society is impossible without the synchronization of entrepreneurship and technology. The government and the regulatory body are ready to provide any kind of support and cooperation required for the mission of poverty alleviation.”
The program was officially concluded with the closing remarks by Chairman of CSD, Mr. Shankar Man Shrestha. He said, “When microfinance first started we were able to reach considerable number of the rural population and provide them with the required services. But now, with the rise of the number of MFIs the fundamentals of microfinance has been forgotten. The greatest problem is the rise in unhealthy competition and multiple financing by the MFIs that has resulted in over indebtedness of the clients.” He further added that CSD would make efforts to transform unemployment into entrepreneurship through equity financing which has already been tried and tested in Bangladesh by the Grameen Trust.
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