MoU Signing between Agricultural Development Bank Ltd. (ADBL), Centre for Rural Technology, Nepal (CRT/N), and National Association of Community Electricity Users Nepal (NACEUN)

MoU Signing between Agricultural Development Bank Ltd. (ADBL), Centre for Rural Technology, Nepal (CRT/N), and National Association of Community Electricity Users Nepal (NACEUN)

22 Oct, 2019 | |

Centre for Rural Technology, Nepal (CRT/N), National Association of Community Electricity Users Nepal (NACEUN) and Agricultural Development Bank Ltd. (ADBL) has signed Tripartite MoU to work in joint collaboration to provide access to finance for enterprise development of Women Entrepreneurs trained under Output 2 “TA 9334-NEP: Strengthening the Capacity of the Energy Sector  to Deliver Gender Equality and Social Inclusion Result and Empowering Women Engendering  Energy – Nepal project. This project has been jointly implemented by Centre for Rural Technology, Nepal and Practical Action Consulting (PAC) with National Association of Community Electricity Users Nepal as strategic partner, supported by ADB and ENERGIA/Hivos.  The project will support 500 women entrepreneurs under 15 Electricity Users Committee (EUC) in Chitwan, Dhading, Lalitpur, Kavre, Sindhupalchowk, Dolakha, Ramechhap and Sindhuli districts.

The MoU signing ceremony took place in the head office of Agricultural Development Bank Ltd., Ram Shah Path, Kathmandu on  October 20, 2019 (Kartik 3, 2076). CRT/N’s Executive Director, Mr. Ganesh Ram Shrestha signed the MoU on behalf of CRT/N, NACEUN’s Chairperson Mr. Narayan Gyawali signed the MoU on behalf of NACEUN and Mr. Anil Kumar Upadhyay, Chief Executive Officer signed the MoU on behalf of ADBL.

It was agreed that with recommendation of the concerned Electricity Users Committee (EUCs) as instructed by the NACEUN and coordinated by CRT/N, Bank as per its prevailing policies, procedures and guidelines will give priority to provide credit to bankable Women Entrepreneurs (WEs) trained by the above project against collateral or without collateral base/subsidized loan scheme 2075 B.S

Mr. Anil Kumar Upadhyay, CEO of ADBL expressed that this mutual agreement is expected to be a milestone to support for economic empowerment of small and medium women entrepreneurs living in the remote areas, through increasing their income, augmenting financial literacy and access to the Bank.

Mr. Ganesh Ram Shrestha, ED of CRT/N said that this cooperation will be a big support to improve the economic status of women entrepreneurs who otherwise could not expand their business due to lack of financial support.

Mr. Narayan Gyawali, Chairperson of NACEUN highlighted that this new initiation will make all of us more responsible and visionary towards women’s economic empowerment in Nepal.