Dhaulagiri Community Resource Development Center, (DCRDC) has been starting the Saving and Credit program since 2054 with the partnership of a Micro-credit project for women. After the phase-out of this project, DCRDC has decided to continue the saving and Credit (Microfinance) program due to the following reasons, one is the demand of the clients who are already participated in the MCPW, and the other is the huge success of this program and this impact in the economic condition of the poor and landless people. DCRDC has been taking the license of Financial Intermediary from Nepal Rastra Bank in 2058 and has taken the loan from RMDC, DCRDC has launched a Microfinance program to render the services to the poorest of the poor of the rural areas people who have no access to formal financial services.
Introduction:
Microfinance means providing very poor families with a very small loan (microcredit) to help them engage in productive activities or grew their tiny businesses. The microfinance program has been successful to create a track record in delivering microfinance services to poor and disadvantaged households. DCRDC has focused primarily on delivering saving and credit activity, complemented with other community development activities (ICS/SSMP/Livelihood Improvement Program) to those who have no access to formal financial services. DCRDC has organized different types of capacity building and entrepreneurial skill development training for the clients with the partnership of the Micro-Enterprise Development Program (MEDP), Myagdi with the support of UNDP.
Objectives:
The main objectives of the microfinance program of DCRDC Baglung are to improve the economic condition of the rural area’s people by rendering microfinance services and empowering them to invest in income-generating activities.
Achievement:
Within a few years of its operation, the microfinance program can achieve its twin goals of sustainability and outreach. DCRDC has providing microfinance services through 5 branch offices (Baglung, Myagdi, Parbat, Gulmi, Argakhanchi, and Kaski) in 54 VDCs. The active clients of the microfinance program have been 5758, out of the 3733 have taken the loan from DCRDC for different business motives. The total loan disbursement up to this year has been Rs 263,549,292. Out of total loan disbursement, Rs 221,698,617 has been recollected and thus remaining a total outstanding of Rs 41,850,675. The total saving amount of the client has been reached Rs 17,147,457. The intervention of this program has proved that poor women even using small amounts of credit can shape their lives dramatically.
Future Planning
1) Upcoming Branch
- Burtibang
- Kharbang
2) Upcoming Product
- Micro-Enterprise Loan (Collateral Loan)