| ID: | 73984 |
|---|---|
| Country: | Nepal |
| Title: | Nepal – Rural Poor Stimulus Facility (RPSF) – March 2022 |
| Description: |
The Namaste hypermarket of Buddhanagar Agro (BA), a cooperative store, provides several services to farmers, including veterinary services, access to fertilizers, pesticides and seeds. Currently, 300 smallholders and established farmers are members, and more than 500 farmers do business with them. Farmers who are part of the cooperative receive a buy-back and marketing guarantee for their products. As there is no middleman involved, they are able to purchase from farmers at a slightly higher price than wholesale rates and are able to sell to customers for slightly cheaper than market rates. When a farmer utilizes a service from BA, for instance hiring an agro vet, this is done on credit. When the farmer comes to the hypermart to sell produce, the price of those services is deducted from the earnings, and the transaction is them completed via the Kisan credit card, giving both, the farmer and the cooperative, a clear and transparent record of the transaction, eliminating the need for cash. There are four other stores in the area, with plans for expansion in other parts of Nepal using a franchise model. 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. |
| Size: | 9.79 MB; 5760 x 3840 pixels; 488 x 325 mm (print at 300 DPI); 1524 x 1016 mm (screen at 96 DPI); |
| Show more details: | Purnima Shrestha |
| Copyright: | ©IFAD/Purnima Shrestha |
| Categories: | none |
| URL: | www.ifad.org |
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