Kathmandu, Feb 3: The Nawalparasi-based Vijaya Laghubitta Bittiya Sanstha (VLBS) â€“ a microfinance institution working to promote access to finance in rural community â€“ has expanded its branch in Rolpa district headquarters, Liwang.
Chief District Officer of Rolpa Luk Bahadur Chhetri inaugurated the operation of 10th branch of Vijaya Laghubitta amid a programme on Monday.
“We have floated the idea to expand our reach to far-flung geographical region where access to finance is still a big cry”, said VLBS Managing Director Basanta Lamsal. He further said the access to micro finance through groups in disadvantaged community would open up avenues for promoting micro-enterprises and creating employment opportunities thereby improving living standard of people in margin.
Bearing this in mind, the institution headquartered in Rajahar of Nawalparasi has provided its microfinance services to 6,000 deprived people across its coverage area.
The institution was established on 12 August 2012 on the initiative of Vijaya Development Resource Centre (VDRC-Nepal), Gaindakot with the backing of 186 promoters including Good Will Finance, Kathmandu.
The institution is expanding its reach in Dang, Salyan and Pyuthan districts within a month, informed VLBS General Manager Narayan Sapkota.