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Micro-finance has been proven instrumental in the world for poverty alleviation. Among many models practiced all over the world, the Grameen Model of micro-finance has been found comparatively more successful than others. The model was propounded by Prof. Dr. Muhammad Yunus, the co-winner of the Nobel Peace Prize. Replication of this model of micro-finance has been spread all over the world and Unique Nepal is one of the replicator.
Initially, in the Western Tarai, it was very difficult to create friendly environment for micro-finance compared to that in the Eastern Nepal, where there were immense possibilities of market opportunities. Numerous ‘Haat Bazaars’ were taking place almost every day of the week in the Eastern Region. But in Western Tarai, there were very limited market opportunities and ‘Hat Bazaars’. UNYC Nepal and some other institutions have put a lot of continuous efforts for last 2 decades in creating friendly environment and market-place for micro-finance. Today numerous micro-finance practitioners are working in the Western Region of Nepal and competition is increasing day by day as a result. Though it has given choices to the beneficiaries, the unhealthy competition has adversely affected the micro-finance industry.
UNLBSL is serving the deprived and socio-economically poor and marginalized communities in Tarai region of Province 5 and Province 7. It has prioritized specific target beneficiaries like freed Kamaiya (bonded labor), Haliya (hired tiller at meager wage), Adherawa (the tiller who receives 50% of total agricultural production), single women and freed Kamlahri (female house keeper). It serves multiple financial products viz. 5 types of micro credit, 5 types of savings, micro insurance and remittance service. The client protection, social performance and sustainability issues collectively are the tools for policy improvement and clients’ satisfaction. It continuously revisits its financial products and services, delivery models and channels so as to address clients’ needs and preferences.
On this occasion, I would like to express my sincere thanks to Nepal Rastra Bank, Government of Nepal, promoters and all concerned institutions that helped us establish, expand and grow our services to this extent. Our sincere thanks goes to our clients, who believe in our products and services and are striving to come out from poverty through our services. I would also like to convey my heartfelt thanks to our staffs for their commitment and sincerity towards achieving institution’s VMGO.
Dr. Gopal Dahit