Women entrepreneurs want loans simplified

Published On: June 16, 2017 09:05 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, June 15: The process of getting loans from financial institutions should be made simple for the empowerment of women entrepreneurs, said leaders of the women entrepreneurs. 

Speaking at a round table discussion on the ‘recommendations provided by the Center for International Private Enterprise to empower women in business through engagement with decision makers’, Former President of the Federation of Woman Entrepreneurs Associations of Nepal (FWEAN) Chhaya Sharma said that the government should encourage women entrepreneurs access to bank loans. 
Sharma is also a lawmaker. 

“Moreover, the government should also expand the Women’s Entrepreneurship Development Fund to women entrepreneurs in the rural areas too,” added Sharma. 

A team of five women entrepreneurs can get up to Rs 2.5 million from the Fund for investing in their enterprises. “But many women entrepreneurs don’t have access to this loan from the Fund. The government should encourage women entrepreneurs associated with FWEAN, which has its network in 29 districts,” said Sharma. 

Speaking at the program, joint secretary of the Ministry of Industry, Puroshottam Nepal said that Rs 2 billion has been allocated for women entrepreneurship development in the next fiscal year and that the amount will be spent through the local and provincial governments. 
FWEAN’s General Secretary Shova Gyawali said she expects better opportunities for women entrepreneurs in the federal set up. “The local election held after two decades is likely to bring new opportunities for women entrepreneurs,” said Gyawali adding that FWEAN has its plan to expand its network in nine more districts in the near future. It has its network in 29 districts.  First President of FWEAN Sharada Rijal demanded that each bank and financial institution provide one percent of its total lending to women entrepreneurs.

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