Nepal – Rural Poor Stimulus Facility (RPSF) – March 2022
Khadak Baadur Thapa, 34, who used to be a teacher with a keen interest in supply chain management, is the CEO of Buddhanagar Agro (BA), a cooperative store and farm. During a visit to Thailand, he observed a cooperative model that was paying farmers a higher price than actual market price for their milk. This inspired Khadak to set up his own agricultural cooperative in his town following the same model, so that both his company and farmers could benefit. Setting up the cooperative posed some challenges, like market management of agriculture produces, input availability, etc. which he was able to overcome. Khadak himself farms poultry and via the BA farm, employs 40 people, including members of his family.
As a farmer, Khadak uses the Kisan credit card, which has increased his confidence in digital transactions. He uses it to purchase seeds for his farm and to sell to merchants. Because the transactions are digital, he has access to his transaction history, and says this helps him manage his finances better. As a merchant, too, he appreciates the ability to keep easy records and access them, increasing transparency.
Also, the ease of selling and buying at these outlets is attracting more farmers to BA farm, which has led to an increase in business and revenue. 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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