Nepal – Rural Poor Stimulus Facility (RPSF) – March 2022
Owner Lalawati Marasini, 38, recieved a subsidized loan from the Agricultural Development Bank through the Dayanagar branch. With her husband, Shiva Prasad Subedi, she does livestock farming and fisheries. During the Covid-19 pandemic, there were many days where she could not sell her milk, and even when it was sold, the prices were lower and sometimes the dairy would return the milk. They would either consume it themselves or share it with neighbours. In addition, because shops were closed, they were not able to sell their fish.
Lalawati learnt of the Kisan card through the Chappiya milk collection centre, and applied for and received one in April 2021. She says that because the money is credited to her account through the Kisan card, she doesn’t make unnecessary purchases and can accumulate interest on what she’s earning. After getting the card, she opened an account with ADBL, which allowed her to receive a subsidized loan.
With the loan, she purchased a number of buffaloes and is renovating the cow shed to add storage for hay chaff to feed livestock. Without the loan, Lalawati would not have been able to get through the pandemic in the same way. Before the loan and the Kisan card, their income was around NPR 15,000 per month; today it is NPR 40,000 per month.
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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