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Enhancing Access to Financial Services (EAFS)
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In Nepal, only about 26% of households have a bank account and 38% have outstanding loans exclusively from the informal sector (World Bank, 2006). Access to financial services is particularly difficult for people living in the remote hills and mountains, and interior parts of the Terai as well, and many people here totally lack access to financial services. Many small businesses and low-income households in these areas find it difficult to access formal financial services to manage their savings and remittance receipts and their credit and insurance needs. Such households turn to their friends and family, and small businesses to their suppliers for credit. Very few of the poorest Nepalis use bank accounts with only about 12% of the least economically well-off half of the population having an account.
The Enhancing Access to Financial Services (EAFS) project was extending access to formal financial services for micro and small enterprises and low income households in line with the Government of Nepal's banking and microfinance sectors- the Nepal Rastra Bank with support from UNDP and UNCDF. The project's objective was to expand microfinance services to 330,000 additional new clients and establish linkages between 10,000 SCGs with MFIs duration 2008-2012.
#UNDP #FinancialAssistance #2008
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Publisher:
UNDP
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(2008
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Type / Script:
Official Document
in English
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Keywords:
FINANCIAL SERVICES, BUSINESS CYCLES, ECONOMIC ASPECTS, ECONOMIC RECESSION, ECONOMIC TRENDS, LIVING CONDITIONS, POLITICAL CONDITIONS, SOCIAL CONDITIONS, MICROFINANCE, GOVERNMENT, PROJECT
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Thematic Group:
UNDP
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Social and Institutional Developoment
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Thesaurus:
02.02.00
- Economic Conditions
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Reference Link:
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