Promotion of Migrants Savings and Alternative Investments through selected Micro-financing Institutions (MFIs) in Nepal

The International Fund for Agricultural Development (IFAD) and Centre for Microfinance (CMF) Nepal worked together in this project for Promotion of Migrants Savings and Alternative Investments through selected Micro-financing Institutions (MFIs) in Nepal. The main aim of the project was to improve the financial service, including remittance delivery capacity of 10 selected microfinance institutions to the rural poor and migrant worker families.

It had six objectives. First: to diversify microfinance products targeting migrant workers and their families. Second: to enhance the sustainability of MFIs and migrant family enterprises through saving and alternative investment. Third: to increase the awareness on financial literacy among MFI client and migrant work. Fourth: to create an enabling environment for migrant workers. Fifth: to use remittances as technology for rural development. And sixth: to pilot test unemployment insurance.

Donor: IFAD Project Length: March 2009- March 2011 Location: All throughout Nepal