A partnership agreement has been signed between Kumari Bank Ltd. and Oxfam in Nepal for Credit Financing under Oxfam in Nepal’s Enterprise Development Programme (EDP) amid a press conference on February 10, 2011. This partnership will be yet another step of Kumari Bank towards providing access to finance to the deprived sector. As per the agreement, the bank will provide revolving credit facility, up to defined limits, to the Agricultural Co-operatives identified by Oxfam.
The vision of Enterprise Development Programme is to encourage women farmer led enterprises that produce and market high quality agriculture produce for local and regional market. To start with, the bank will finance Pabitra Janakalyan Agricultural Co-operative from Surkhet District (a major hub of the mid Western Development Region of Nepal) involved in vegetable seed production and marketing. District Cooperative Division Office, Agricultural Development Office (DADO), District Chamber of Commerce and Industries (DCCI) and Local and National Traders and Seed Companies (e.g. CG Seed, SEAN) will support the cooperative business development in terms of market development, information and advisory services.
The achievements and best practices of this Pilot programme initiated by Oxfam and Kumari Bank will be institutionalized and replicated in other programme districts in the future. Oxfam is a development, humanitarian and campaigning organization that works with others to find lasting solutions to poverty and suffering around the world. It works in more than 80 countries and is a member of Oxfam International. Oxfam’s goal is a world where every person is equal, secure, skilled, safe, healthy and heard. Oxfam in Nepal has been working in Nepal since the 1980s. Currently, its programmes focus on rural livelihoods, food security, disaster risk reduction, and empowerment of women, access to health services, and water & sanitation.
