Nepal – Rural Poor Stimulus Facility (RPSF) – March 2022
Yusuf Musalmaan, the father of Akbal Musalmaan, owner of Akbal Bewasayik Vegetable Farm, sprays pesticide on the the tomato plants. This helps prevent the attack of insect ensuring a good yield.
With the help of his family, Akbal cultivates seasonal vegetables in three hectares of land, with a yearly production of about 1250 quintals of vegetables. What the family doesn’t eat, they sell in Butwal, a nearby district, as well as at the nearby market. Akbal received a subsidised loan from the Agricultural Development Bank Ltd. with which he has been able to set-up a good irrigation system and purchase heavy machineries like an excavator.
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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