Kathmandu,16 March 2015: Sakchyam Access to Finance and Vijaya Laghubitta Bittiya Sanstha (VLBS) have signed an agreement Monday to improve socio-economic status of poor and deprived people of Rapti zone through access to finance.
The three year project “Improvement of Livelihood Situation of Disadvantaged Members through Access to Finance” will be implemented in Dang, Salyan, Pyuthan, Rolpa and Rukum districts of Rapti Zone.
According to VLBS managing director Basanta Raj Lamsal, they would provide both financial (loan, savings and insurance) and non-financial (training, onsite support, SMS and market linkages) services to the beneficiaries and target group comprising poor, women, youth and DAG people.
“Both collateral and non-collateral based loan ranging from Rs 10,000 to Rs 500,000 would be offered under the programme”, he said, adding that pre-group training, financial literacy, business planning and technical support for agro-based enterprises would add value to improve livelihood status of the poor and disadvantaged.
The project would provide a total loan of Rs 112 million to 2,000 disadvantaged people to encourage them to engage in enterprises.
VLBS is a microfinance organization aiming at contributing to poverty reduction and socioeconomic development of the country through microfinance services. It is the Nepal Rastra bank licensed institution headquartered in Rajahar of Nawalparasi district. The organization has expanded its services through 13 branches in 12 districts of the country, said VLBS manager Narayan Sapkota.