KATHMANDU, Juhne 15: Sakchyam Access to Finance Programme (SAFP) and NMB Bank Limited have signed a partnership agreement to roll out Sakchyam Dairy Financing to milk cooperatives and farmers of mid and far- western region of Nepal.
Issuing a press statement on Monday, SAFP said that its support to the project would be for three years and will cover six districts -- Kailali, Kanchanpur, Banke, Bardiya, Surkhet and Dang.
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According to SAFP, cooperatives and farmers in these regions can receive required financial resources to increase production and supply of milk. NMB Bank will disburse Rs 250 million in loans in the three-year period.
Speaking at the agreement signing program, Upendra Poudyal, CEO of NMB Bank said: "The project will directly lend to milk cooperatives in the selected and nearby districts based on their financial requirement. The value chain will include Dairy Development Corporation (DDC), farmers, milk-cooperatives and the bank."
Likewise, Baljit Vohra, team leader of SAFP, said, SAFP, in partnership with NMB Bank, was launching financial services that are specifically tailored for milk cooperatives and farmer communities in collaboration with DDC.
