Microcredit : a success-story from Nepal
Mahila Sahayogi Sahakari Sanstha (MSSS), a micro-credit provider in Nepal help the women in the country earn money by providing micro credit loans. The employees of the micro-finance institution come to their doorsteps to provide them credit and the borrowers do not have to offer their property as collateral.
Parbati Karki had purchased a Jersey cow five years ago by obtaining a small loan of Rs. 5,000 from Mahila Sahayogi Sahakari Sanstha (MSSS), a micro-credit provider and she now has a successful milk selling business thanks to the micro-credit loan. She has been able to erect a new house by putting together her income from the milk business and her husband’s earnings.
Thanu Karki said she purchased jewellery from the savings she made by rearing goats. She had also borrowed Rs. 5,000 from the micro-finance institution to start her enterprise. Mina Karki had a hard time managing her household expenses on the small salary her husband. Now, she is earning money herself by rearing cows and growing vegetables.
They have formed a women’s group which is mainly responsible for taking decisions regarding who should be given credit as per their earlier performance regarding the best utilization of the fund.
The women of the village said they had to depend on others for even small personal expenses. Now they are capable of earning enough money not only their personal expenses but also to contributed the household expenses.