It is an honour and a privilege to be in this beautiful city, the capital of
2. During the visit, I called on the Prime Minister Rt Hon’ble Dr. Baburam Bhattarai and will call on the President Rt Hon’ble Dr. Ram Baran Yadav and I also had bilateral consultations with my counterpart Hon’ble Mr. Barsaman Pun, the Finance Minister of Nepal where we reviewed bilateral economic cooperation and discussed ways and means to expand the economic relations between the two countries. I briefed Rt Hon’ble Prime Minister on the progress made on implementation of the rich and vast agenda agreed upon during the visit of the Prime Minister of Nepal to
3. As you know, I am here primarily to sign the Double Taxation Avoidance Agreement (DTAA) as was agreed during the visit of Prime Minister of Nepal to
6. I will also have discussions with leaders from a wide cross section of political parties including the President of Nepali Congress Mr. Sushil Koirala, former Prime Minister and Chairman of UCPN (Maoist) Mr. Puspha Kamal Dahal 'Prachanda', former Prime Minister and Chairman of CPN (UML) Mr. Jhala Nath Khanal and Deputy Prime Minister and Minister of Home Affairs and President of MJF-Loktantrik Mr. Bijay Gacchadar. I conveyed to the leadership that Government of India welcomes the 7-Point Agreement reached among the political that provides a firm basis for successfully concluding the remaining aspects ofNepal’s peace process. We congratulate the people and the political parties in Nepal for their commitment to peacefully resolving outstanding issues in a spirit of consensus and for displaying enlightened leadership.India fully supports these efforts to pave the way for Nepal’s transition to a pluralistic and inclusive multi-party democracy. I assured the Nepalese leaders of
8. I am convinced of the significance and the great potential of India-Nepal relations, which is heightened in these times of rapid change. Relations with
The report’s release precedes the Global Microcredit Summit 2011 to be held November 14-17 in
While more than 205 million people worldwide received a microloan in 2010, this multi-year campaign focuses on outreach to the poorest clients. According to the report, over the last 13 years, the number of very poor families with a microloan has grown more than 18-fold from 7.6 million in 1997 to 137.5 million in 2010. The latest data comes from more than 3,600 institutions worldwide, with more than 94 percent of the information having been collected within the last 18 months.
However, in the last year microfinance has faced setbacks as well. An initial public offering of SKS, a microfinance institution (MFI) based in Andhra Pradesh, India, was followed by charges of over-indebtedness and suicides among clients in that state, resulting in a clamp-down by the state government last October.
“While our progress has been stunning, the challenges in Andhra Pradesh and elsewhere will take a toll,” said Campaign director Sam Daley-Harris. “As of
The report also highlights the number of poorest women reached. Not only have these women been the most excluded from traditional banking, but they are also the ones most likely to ensure that the increased income is used to improve the lives of their children. From 1999 to 2010, the number of poorest women reached has increased from 10.3 million to 113.1 million.
The report was released in
The State of the Microcredit
The Seal of Excellence has been under development for 19 months and will continue to evolve with input from a broad range of stakeholders. It will recognize those institutions that deepen financial inclusion by providing products and services that reach poor people and support their movement out of poverty. The Seal of Excellence will build on other microfinance industry initiatives, including the Smart Campaign’s client protection principles and the Universal Standards of the Social Performance Task Force. The Steering Committee for the Seal of Excellence plans to use the existing social rating and evaluation systems to assess the performance of microfinance institutions in poverty outreach and transformation.
“As a microfinance community, we need to shift our focus from outreach to results,” said Larry Reed, incoming director of the Microcredit Summit Campaign. “The State of the Microcredit Summit Campaign Report 2012 outlines important steps that we can take together to insure that the financial services we provide result in regular meals, secure housing, uninterrupted education, and better health for our clients and their families.”
It is estimated that over 1.7 million households have received institutional microfinance services on October 2011, a massive increase from around 150,000 members in 2000 when RMDC started its operation. The partner organizations of the
The partner organizations of RMDC have cumulatively disbursed loan amounting Rs.80.87 billion to the poor and deprived families and collected back Rs.66.7 billion till July, 2011 while the collective loan outstanding stood at Rs.14.17 billion. Similarly, they have been able to collect savings worth Rs.5.80 billion from the members as of July, 2011.
On this occasion, Chief Executive Officer of RMDC, Mr. Shankar Man Shrestha stressed the need for delivering microfinance services in responsible and sustainable manner. "The problem of multiple-financing and over-financing to the clients is apparent in
RMDC has been increasing capacity of its partner MFIs and their clients through different training programs and exposure visits. Similarly, it has been organizing different national and international level conferences for the expansion of this sector. It has been also organizing different seminars and conferences to sensitize the members and MFIs about the problems faced by MFIs. Credit plus program of RMDC has been the key for maintaining over 98 percent repayment rate.
The Microcredit Summit Campaign aims to reach 175 million of the world’s poorest families by 2015 and ensure that 100 million of those families move above the World Bank’s $1.25-a-day poverty threshold.
To download the report online: http://mcs2015.org/2012-Report-English
The Microcredit Summit Campaign is a project of RESULTS Educational Fund, a U.S.-based advocacy organization committed to creating the will to eliminate poverty. The Campaign was launched in 1997 and, in 2007, surpassed its original goal of reaching 100 million poorest families with credit for self-employment and other financial and business services. The Global Microcredit Summit 2011 will be held November 14-17 in
The Journey: The 1973 model VW Beetle of the Spinal Injury Rehabilitation Centre (
The ‘Spinal Beetle’ arrived at the Indian Spinal Injuries Centre (ISIC) on 7 November evening. Travelling further along the Grand Trunk Road, it will pass
Why the Adventure: The sudden rise of the number of patients over the last year has forced the Spinal Centre-Nepal to raise its service from 39 beds to 51. The Spinal Centre seeks to raise USD 110,000 from the 1100 mile journey, at the ‘rate’ of USD 100 per mile from friends and supporters worldwide. At midway, the Indian Spinal Injuries Centre in
Awareness: The Spinal Beetle Rally is also an effort to raise awareness of spinal injury prevention, rescue, care and rehabilitation in the Subcontinent. In this effort, the Spinal Centre-Nepal is assisted by Indian Spinal Injuries Center-Delhi and the Paraplegic Centre-Peshawar.
‘Overland connectivity’: The organisers hope that the drive of the Spinal Beetle from
The Rallyists: The Spinal Beetle is driven by journalist and civil rights activist Kanak Mani Dixit, Founder-Chair of the Spinal Centre-Nepal. He is accompanied by Shanta Dixit, board member and educationist. It was Kanak’s trekking accident a decade ago, resulting in a broken back, which led to the establishment of the Spinal Centre-Nepal.
Done it Before: The Spinal Beetle has done the Kathmandu-Dhaka stretch twice, in 2002 and 2005, to generous response.
About the Spinal Centre
Website: Details of the ‘
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