Kathmandu. The fifth National Microfinance Members’ Conference is taking place in Kathmandu on March 22 to discuss the achievements, problems and challenges of microfinance programme and to chalk out future strategy.

More than 500 participants including regulatory bodies, policy makers, representatives of government bodies, leaders and directors of microfinance institutions, microfinance entrepreneurs and service recipients are taking part in the conference. The two-day conference will feature group discussions, interaction and experience sharing on various dimensions of microfinance sector in seven sessions under the theme ‘Let Us Spread Entrepreneurship, Make Youths Self-Employed’.

The conference will discuss the issues of ‘Experience and Progress of Microfinance Members’, ‘Current Status, Challenges and Opportunities of Microfinance’, ‘Credit Plus Program for Members’ Economic and Social Transformation’, ‘Development of Positive Thinking and Stress Management in Microfinance’, ‘Use of Technology in Microfinance, Challenges and Precautionary Measures’, ‘Youth Self-Employment, Three Zero Clubs and Microfinance’ and ‘Role of Members, Employees and Institutions to Control Distortions, Aberrations and Deviations in Microfinance’ ।

Nepal is the only country in the conference among the 177 microfinance programs implemented in the world, said Shankarman Shrestha, president of the Self-Reliant Development Center. “There is a tradition of organizing world conference, regional and national conferences with the participation of policy makers and regulators of microfinance. According to him, the members are an integral part of the microfinance and the conference has been organized keeping them at the centre.

The Swabalamban Vikas Centre has been organizing Microfinance Member’s Conference every two years since 2073 BS. Microfinance financial institutions have been playing the role in economic and social sectors such as poverty alleviation, economic and social development of women and poor people, increase in literacy, sustainable development, etc. Shrestha said that the micro finances have made women self-employed, increased women literacy, motivated children to send them to school and youths who have returned from abroad have become self-employed by taking loan from microfinance.

He said that after the government transformed the microfinance institutions into a company model and made them ‘D’ class financial institutions, there was a race to make profit and distribute dividends. Stating that problems have surfaced due to unhealthy competition, he said that the microfinance program should be made member-oriented by correcting it.

Although there is a huge potential of creativity, energy, education and skills among the youth, many youths are compelled to go for foreign employment due to lack of adequate self-employment opportunities. Shrestha said that the microfinance institutions should work to make the youths self-employed would be a new dimension for the programme. “The microfinance institutions should now focus on implementing their programs targeting youths”, he said, adding that the slogan of this year’s conference has also focused on youth entrepreneurship. ’

Currently, microfinance companies and microfinance cooperatives are providing microfinance services in all 77 districts of Nepal. Apart from financial services, microfinance companies are also doing various activities for the economic and social development of the members of ‘Credit Plus’. Likewise, youth clubs have been formed with the goal of zero poverty, zero unemployment and zero carbon emission under the ‘Three Zero’ concept.

According to Nepal Rastra Bank (NRB), 52 microfinance institutions have enrolled 6,283,000 members of the general public through 5,000 branches across the country as of 2082 BS. Of them, 95 percent are women. Twenty-seven lakh members are doing business by taking loans from microfinance institutions. Microfinance institutions have also invested more than Rs 495 billion. Apart from microfinance, 50 microfinance institutions are also active, according to the organizers.