A MoU signed between Global IME bank and Heifer International to help farmers

8th Jan, 2021 | Tourism Mail Crew

KATHMANDU, Jan 08: A Memorandum of Understanding (MoU) has been signed between Global IME Bank Limited and Heffer International Nepal to increase the access of small farmers to agricultural subsidy loans. The agreement was signed between Chief Executive Officer of the Bank Ratnaraj Bajracharya and National Director of Heffer International Shubhnarayan Mahato.

According to the MoU, Global IME Bank will provide concessional loans to farmers in different parts of Gulmi district for goat, dairy, vegetable farming, poultry, marmot, fish and fruit production on the recommendation of local cooperatives while Heffer International will provide necessary training to small farmers.

This understanding will make a significant contribution to the upliftment of living standards of women, marginalized and backward local agri-entrepreneurs due to lack of capital in Gulmi district. At the same time, the bank will encourage local farmers to use banking literacy and information technology.

Global IME Bank, which has a network of branches across the country and abroad, is providing services from 800 service centers including 264 branches in all 7 provinces and 73 districts with the objective of providing access to banking services to all sectors and classes. Similarly, the bank has been making significant contribution to the country's economy by sending remittances from more than 17 countries.

In addition, Heffer International has so far supported more than 254,000 poor, disadvantaged families in 41 districts with programs to develop the sustainable livelihoods of small farmers. Global IME Bank will use its access and service center to provide services to the social women entrepreneur cooperatives identified by Heffer Nepal and related women entrepreneurs by connecting them with the bank.

Along with this understanding, the two organizations will make joint efforts to improve the financial access of rural farmers involved in agri-enterprises and enable them to expand their businesses.