Kathmandu: CARE Nepal, in collaboration with Nepal Investment Mega Bank Ltd (NIMB), has initiated Farmer ID Card Program aiming at expanding financial access through cashless transactions for landless and marginalized women farmers.
Farmer ID Card is a special financial instrument designed to provide access to financial services, especially for communities, particularly women agricultural entrepreneurs, who lack access to banks or financial institutions.
The objective of this collaboration, according to CARE Nepal, is to enhance financial inclusion and facilitate easy access through cashless transactions for eligible beneficiaries, including landless and women farmers, as well as agricultural businesses.
“The Farmer ID Card aims to provide farmers with access to credit facilities through cashless transactions within the agricultural sector. Utilizing the QR code and OTP-based technology, farmers can easily and securely purchase agricultural supplies, equipment, and necessary services, as well as cover maintenance expenses. They [farmers] will be able to sell agricultural produce to local agricultural businesses through the Farmer Card,” a statement issued by CARE Nepal reads.
According to CARE Nepal, the National Farmers Group Federation will coordinate in farmer identification process, agricultural extension, and collaboration with financial institutions. NIMB will open bank accounts for farmers, distribute Farmer Cards, and provide literacy about card usage.
Farmers are expected to gain access to various loan facilities, discounts, and subsidies provided by financial institutions, government, and non-governmental organizations, Care Nepal said.
This collaboration aims to provide farmers with necessary financial resources to expand their agricultural businesses, enhance financial literacy, and improve livelihoods. Also, it aims to encourage the utilization of loan facilities targeted at small, landless, and women farmers for targeted businesses, as well as to encourage them to make responsible financial decisions.
According to Mona Sherpa, country director of CARE Nepal, this project is an important step towards financial inclusion to empower landless and marginalized women farmers. “This initiative aims not only to enhance financial inclusivity but also to financially empower small, women, and marginalized farmers to advance their agricultural businesses significantly. With the growth in financial resources and digital technologies’ accessibility, we anticipate progress in the agriculture sector and the emergence of new opportunities.”
CARE Nepal, in partnership with Nepal Investment Mega Bank , R&D Innovative Solutions, and the National Farmers Group Federation, will provide financial services to 6,000 landless, marginalized, and women farmers in Udayapur, Saptari, and Siraha districts of Nepal through the Farmer ID Card initiative.
“We [farmers] expect easy financing services through the farmer card, along with easy access to loans provided by banks,” said Savita Kumari Mandal, a resident of Bhagawanpur-1, Simuriya.
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