Nepal – Rural Poor Stimulus Facility (RPSF) – March 2022
Bandana Yadav is a 28-year-old woman who describes herself as a housewife, though she also helps her husband with his farm, as she is in charge of fertilizing and irrigating the crops. Her family grows wheat, paddy, and bananas.
During COVID-19, Bandana and her family could not purchase fertilizers, only people with Kisan cards could, so she took the necessary steps to get one for her family. “We can go cashless if we have a Kisan card. During the pandemic, we were frightened to carry money because we heard that money carried viruses, but the Kisan card helped us to overcome this fear.”
She also received a loan from the Agricultural Development Bank, IFAD’s implementing partner for the RPSF, and has invested this money in the banana and nursery farm.
In Nepal, RPSF funds supported laying the foundation for scaling-up the upcoming VITA project. The project will implement a new credit card and mobile phone application for money and information transfers and automated loan processing. The RPSF grant accelerated the roll-out of Kisan cards (in Nepalese, kisan is a farmer) and app providing digital financial services, automatic loan processing, reducing face-to-face transactions and promoting financial literacy and savings to build resilience.
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