Institute of micro-finance and cooperative development.

CSD Chairman Speaks to the Board Officials and Management Team of EDCOL, Surkhet

Seizing the opportunity of CSD Chairman Mr. Shankar Man Shrestha’s visit to Surkhet, Environment Development Multipurpose Cooperative Ltd. (EDCOL), Institutional Member of CSD, organized an interaction program on the morning of October 5, 2016 at its head office. The program was attended by all Board Officials, management team and staff of EDCOL.

Mr. Dambar Prasad Aryal, Chairman of EDCOL warmly welcomed all the participants and highlighted the pivotal role of Mr. Shrestha in the microfinance sector and his dedication in taking it to greater heights through various initiatives during his tenure in RMDC and thereafter as chairman of CSD such as the first ever National Microfinance Members’ Summit.

Speaking to the group, Mr. Shrestha commented, “It is commendable to see two member institutions of CSD, EDCOL and BGMCL, work hand-in-hand in the district. This environment of understanding and cooperation to work for the benefit of the deprived families is praiseworthy.”

“Nepal is gifted with an abundance of local resources and materials. We are an agricultural country. The Cooperative sector has the capacity to bring about an agricultural revolution in the country. Let us assist the youth in our coverage areas by launching youth self-employment programs. Also, we must not neglect the health of our members and recruit health workers in our branches. We must provide services according to the needs and requirements of our members,” added Mr. Shrestha.

Challenges and issues regarding duplication and poaching of members, risk of traveling long distances for installment collections, overcrowding of market areas, insincerity among some members etc. were raised during the discussion. He advised them expand clients financial literacy to educate them the harms to be caused by over borrowing and misuse of loans.

The Board Officials were eager to increase their field movements and their interactions with their members at the grass-roots and re-orient them on the principles of microfinance. They also intend to improve co-ordination with BGMCL at the field level.

All 46 participants were pleased to have the opportunity to attend the interaction and have vowed to undertake innovative programs and services to the target group and keep microfinance program oriented to target people and clean as before.