Sakchyam — a DFID funded access to finance programme — today joined
hands with two commercial banks, namely Global IME Bank and Bank of
Kathmandu, to extend financial services to the rural communities of mid-
and far-western development regions.
The programme will come into operation in joint collaboration with KL Dugar Group and Mahakali Sugar Mills.
Global IME Bank will extend loans of up to Rs 60,000 to farmers of the mid- and far-west regions taking warehouse receipt as collateral under the Sakchyam Post Harvest Financing, under the scheme launched today.
Farmers of Banke, Bardiya, Kailali and Kanchanpur can borrow against the warehouse receipt as a confirmation document that the farmer has deposited certain produce at the warehouse. Sakchyam would disburse loans of Rs 290 million over the three years through this scheme and aims to expand financial access to 4,800 farmers.
The KL Dugar Group is authorised to issue warehouse receipt to the farmers and the receipt will be taken as the proof of ownership of commodities stored in the warehouse. Global IME Bank CEO Ratna Raj Bajracharya and KL Dugar Group’s Managing Director Kumud Dugar announced the partnership in this regard.
Likewise, Bank of Kathmandu today, launched Sakchyam Sana Kisan Ukhu Karja Invoice Discounting that will be implemented in partnership with Mahakali Sugar Mill (MSM). The scheme will make it possible for farmers to get loans of up to 70 per cent of the value of crops sold to MSM and such loan will allow farmers to take care of their immediate financial needs and repay the loan later when they are paid by the mill.
Sakchyam would disburse loans of Rs 290 million under this scheme that aims to extend benefit to 4,000 small holder sugarcane growers, mainly marginalised communities and Dalit women. Bank of Kathmandu CEO Ajay Shrestha and Mahakali Sugar Mill’s Managing Director Sikhar Shrestha have partnered to implement this scheme and said that the average loan size under the scheme would be Rs 20,000.
source: the himalayan times,11 feb 2015
LINK
The programme will come into operation in joint collaboration with KL Dugar Group and Mahakali Sugar Mills.
Global IME Bank will extend loans of up to Rs 60,000 to farmers of the mid- and far-west regions taking warehouse receipt as collateral under the Sakchyam Post Harvest Financing, under the scheme launched today.
Farmers of Banke, Bardiya, Kailali and Kanchanpur can borrow against the warehouse receipt as a confirmation document that the farmer has deposited certain produce at the warehouse. Sakchyam would disburse loans of Rs 290 million over the three years through this scheme and aims to expand financial access to 4,800 farmers.
The KL Dugar Group is authorised to issue warehouse receipt to the farmers and the receipt will be taken as the proof of ownership of commodities stored in the warehouse. Global IME Bank CEO Ratna Raj Bajracharya and KL Dugar Group’s Managing Director Kumud Dugar announced the partnership in this regard.
Likewise, Bank of Kathmandu today, launched Sakchyam Sana Kisan Ukhu Karja Invoice Discounting that will be implemented in partnership with Mahakali Sugar Mill (MSM). The scheme will make it possible for farmers to get loans of up to 70 per cent of the value of crops sold to MSM and such loan will allow farmers to take care of their immediate financial needs and repay the loan later when they are paid by the mill.
Sakchyam would disburse loans of Rs 290 million under this scheme that aims to extend benefit to 4,000 small holder sugarcane growers, mainly marginalised communities and Dalit women. Bank of Kathmandu CEO Ajay Shrestha and Mahakali Sugar Mill’s Managing Director Sikhar Shrestha have partnered to implement this scheme and said that the average loan size under the scheme would be Rs 20,000.
source: the himalayan times,11 feb 2015
LINK
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