The fifth National Microfinance Member Conference is scheduled to be held in Kathmandu on Sunday and Monday (Chait 20 and 21). The conference will discuss the achievements, problems and challenges of the microfinance program and decide on future strategies.

The conference is being organized under the initiative of the major organizations operating microfinance programs in Nepal and in coordination with the Self-Reliance Development Center. The organizers have stated that more than 500 people, including regulatory bodies, policy makers, representatives of government agencies, leaders, directors, microfinance workers and service-receiving members of microfinance institutions, will participate in the conference.

The 2-day conference, which will run under the slogan 'Let's spread entrepreneurship, make youth self-employed', will include group discussions, interactions and experience sharing in various dimensions of microfinance in seven sessions. Under this, discussions will be held on the topics of 'Mind-Tellings about the Experience and Progress of Microfinance Members', 'Current Status of Microfinance, Challenges and Opportunities', 'Microfinance's Credit Plus Program in Economic and Social Transformation of Members', 'Development of Positive Thinking and Stress Management in Microfinance', 'Use of Technology in Microfinance, Challenges and Precautions', 'Youth Self-Employment, Three Zero Club and Microfinance' and 'Role of Members, Employees and Institutions in Controlling Defects, Inconsistencies and Deviations in Microfinance'.

Nepal is the only country in the world where microfinance programs are being operated in 177 countries, said Shankarman Shrestha, Chairman of the Self-Reliance Development Center, at a press conference. "There is a practice of holding world conferences, regional and national conferences with the participation of microfinance policymakers and regulators," he said. "Nepal is the only country that holds conferences with the participation of members." He said that members are an integral part of microfinance and the conferences are being held with them at the center.

The Self-Reliance Development Center has been organizing microfinance member conferences every two years since 2073 BS. The first national microfinance member conference with the slogan 'Development of Entrepreneurship, a Solution to Poverty Alleviation' was held in 2073 BS, the second national microfinance member conference with the slogan 'Clean Microfinance, Our Campaign' was held in 2075 BS, the third national microfinance member conference with the slogan 'Spread Entrepreneurship in Every Household, Make Poverty Zero' was held in 2078 BS, and the fourth conference with the slogan 'Healthy Microfinance, Prosperous Members' was held in 2080 BS.

Microfinance institutions have been playing a role in economic and social sectors such as poverty alleviation, economic and social development of women and the underprivileged, literacy growth, and sustainable development. Shrestha said that there are successful examples such as microfinance making women confined to the kitchen self-employed, increasing female literacy, motivating children to send them to school, and youth returning from abroad becoming self-employed by taking loans from microfinance. However, after the government converted microfinance institutions into a company model and made them a ‘D’ category financial institution, there was a competition to earn profits and share dividends, and for this, he also said that giving more loans than necessary increased distortions. He said that unhealthy competition had caused problems and that microfinance programs should be improved and made member-oriented, and this would turn Nepal’s rural economy around.

The main force of development is the youth, although there is a great potential for creativity, energy, education, and skills, many youth are forced to go for foreign employment due to the lack of sufficient self-employment opportunities. Chairman Shrestha said that now microfinance institutions should work to make youth self-employed, which will be a new dimension for the microfinance program. ‘Now microfinance institutions should focus on advancing their programs by targeting youth,’ he said, ‘That is why we have also focused the slogan of this year’s conference on youth entrepreneurship.’

Currently, microfinance financial institutions and cooperative organizations engaged in microfinance business are providing microfinance services in all 77 districts of Nepal. In addition to financial services, microfinance institutions are doing various things for the economic and social development of ‘Credit Plus’ members. Similarly, under the ‘Three Zeros’ concept, youth clubs are being formed with the goal of zero poverty, zero unemployment and zero net carbon emissions.