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Yallingup, Western Australia
Email:
viti@bearfruit.com.au
Website:
http://www.bearfruit.com.au
Introduction
The Author’s Nepal Visit 2011
M
id 2010, my travel plans commenced with one of the objectives being to link into HwH
microfinance cooperative projects in Chitwan District and visit the Annapurna Children’s Self-
Sustaining Home in Pokhara. Plans were also made to meet with Dipendra KC in Kathmandu,
Travel De’ Society (P.) Ltd. So while en route to Nepal, I joined the World Expedition Textiles of
Gujarat’ — a small tour group travelling across Gujarat Provence in India. This provided first-
hand an opportunity to see how distribution channels had been established in order to sell rural
women’s products at the top end of the market. (Historically, India has emulated microfinance
over a number of decades so I was keen to observe the juxtaposition of microfinance in both
countries.)
On arrival in Kathmandu, I met Dipendra KC and visited Om Nava Udya Savings & Credit Co-
operative Ltd (ONUSCCL) bank located in Sorakkhutte, Kathmandu. I was introduced to bank
personnel and given an understanding of how microfinance, as an institution, is being adopted
and how the microfinance model itself was operating within a small non-government
organisation.
Overall ONUSCCL provides microcredit loans to urban and rural borrowers using the Grameen
Bank business model. Effectively, loans are offered at 50% less than mainstream loans due to the
backing of international funds. Every month ONUSCCL branch in Jutpani V.D.C.4, Chitwan District
operating as Shree Nava Udya savings and credit cooperative (SNUsacc) sends a monthly report
to ONUSCCL and the bank then sends international friends their update.
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The bank’s mission is
to:
“…mobilize resources and provide financial support services to members of co-
operative and the marginalized and poor people for viable productive income
generation enterprises enabling them to reduce their poverty and move into
economic sustainability.”
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Initially, HwH staff distributed micro loans to villagers in their homes. Once a month, staff would
meet with each group. By establishing the cooperative locally in the village therefore creates
sustainability of the village by taking on the: management and handling of funds, the giving out
of loans and the receiving of repayments and savings has been realised.
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Authors Journal entry 26
th
January 2011 after visit at ONUSCCL, Kathmandu
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Om Nava Udya Savings & Credit Co-operative Ltd, (ONUSCCL) Brochure (2007) ‘
Todays savings for tomorrow’s future’,