Nepal – Rural Poor Stimulus Facility (RPSF) – March 2022
Nomraj Neupane is a member of the agricultural cooperative of Buddhanagar Agro (BA), a cooperative store and farm, where he sells the vegetables he grows on his land. Through the use of the credit card, transactions are digital and transparent. He is able to sell his produce and receive money directly in his bank account, which helps him plan his finances.
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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