WACN has authorized microcredit loans to two cooperatives in the Makwanpur district, Nepal. After meetings and discussion with the women members of the Village Development Committees (VDCs) NRs.70,000 (US$1,030) was provided to Shree Nari Chetana Milijuli Saving and Credit Cooperative Ltd. of Hatia VDC and NRs.30,000 (US$440) was provided to Nari Chetana Agarbatti Cooperative Ltd. of Chucchakhola VDC.
The fund is being mobilized as loans to its members for a variety of income generation activities. Most of the loan is disbursed for the following income-generating projects:
• Goat raising
• Buffalo raising
• Agricultural activities
• Incense making
• Small petty goods
The increased income will allow the women to improve the nutrition and health of their families.
The informal women’s group of Hatia Village Development Committee (VDC) has been registered as “Nari Chetana Milijuli Saving and Credit Cooperative Ltd.” at the District Cooperative Office in Makwanpur district of Nepal. At present, 92 women are shareholders of the cooperative. The informal savings groups of women have now been legalized and are now established as a local legal entity.
After registration, the cooperative was provided with materials (stationary) support as required to maintain proper and transparent accounting system of the cooperative.
WACN has facilitated a three-day training on Saving and Credit Mobilization that was held at the training hall of the Community Forest Hall Building from 28th -30th Chaitra 2063 (11th -13th April 2007) for the first group and from 1st -3rd Baishak 2064 (14th -16th April 2007) for the second group. All together 64 participants participated in both trainings.
The main objective of this training was to impart knowledge about the groups’ concepts and to develop the habit of savings for effective mobilization. In the training participants were taught about the advantages of group savings and the value of team-work. They also discussed topics such as types of saving, saving mobilization, process of group formation, loan disbursement and repayment method, roles and responsibility of management body etc. This training helped the participants to conduct group meetings and to collect savings in the cooperatives office.