Daayitwa recommends innovative ideas to improve women’s access to financial investment

Daayitwa recommends innovative ideas to improve women’s access to financial investment

Daayitwa on Monday organised the fourth policy dialogue of the ECON Talks Series on boosting access to financial investment for women-led enterprises.

KATHMANDU: Daayitwa on Monday organised the fourth policy dialogue of the ECON Talks Series on boosting access to financial investment for women-led enterprises. The dialogue featured Chanda Chaudhary, Member of Parliament and former Minister for Women, Children and Senior Citizens as the Policy Champion. The panel comprising Dr Gunakar Bhatta, Executive Director, Nepal Rastra Bank; Monisha Shrestha, Value Chain and Access to Finance Expert; Shova Gyawali, First Vice President, FWEAN and Director, Nepal Republic Media, and Suman Joshi, Executive Director, One to Watch examined the gender-responsive economic policies that incorporate women-led enterprises and entrepreneurs (urban and rural) to promote the enterprising economic growth of Nepal while boosting their access to financial investment. The panel recommended innovative alternatives like psychometric scoring, digital footprint of loan applicants to establish credit guarantee schemes to improve women’s access to finance. The challenges faced by women entrepreneurs in Nepal, lack of rural MSMEs-focused policies and programmes, unnecessary rules and regulations based on societal gender stereotypes discouraging women entrepreneurs, complicated documentation processes in banks and financial institutions (BFIs), lack of coordination between government agencies and BFIs, ineffective communication on existing loan and investment schemes, and language barriers to reach rural women entrepreneurs, alternative credit guarantee schemes were the major issues discussed in the dialogue. The discussion was based on the policy brief aiming to support the policymakers and policy implementers to come up with pragmatic and effective models and schemes with a rich and diverse set of knowledge from the panellists. The event brought together more than 50 policymakers, CSOs, private companies, journalists and other relevant policy stakeholders. In the ECON Talks Series, the dialogues will continue to feature panels with key policy stakeholders — policy beneficiaries, policy critics and policy implementers and championship of the major takeaways by the young parliamentarian as the policy champion. During the event, former Minister Chaudhary reiterated the importance of effective marketing communications, implementation and monitoring of the existing policies and programmes in regard to boosting access to investment and accelerating women entrepreneurship in Nepal. "It is necessary for the government as well as the financial institutions to create a favourable environment for women entrepreneurs to take loans, invest in their innovative ideas and upgrade their enterprises,” she said. Joint Secretary of the Ministry of Industry, Commerce and Supplies, Radhika Aryal emphasized the three key points for women’s entrepreneurship development. “We already have a few good policies and programmes that focus on women entrepreneurs and women-led enterprises, but we are lagging on the implementation part," She said and added, "To increase women’s access to financial investment, the relevant credit and loan schemes need to be communicated well to the women especially rural women, the process to access those schemes need to be simplified, and there should be good coordination between government and BFIs”. Executive Director of Daayitwa, Susit Dhakal while giving his introductory opening remarks said, “Sustainable economic growth of the nation is impossible without women's economic empowerment. However, women-led enterprises, while resolutely promoting national income, employment and identity, are facing myriad investment challenges. The conclusion and recommendations derived from today’s dialogue will support the policymakers and policy implementers for suitable parliamentary actions to boost women’s access to financial investment”. The fourth policy dialogue of the ECON Talks Series was moderated by the former Miss Nepal, Sugarika KC. The past three dialogues of the Series focused on women's economic empowerment, youth employment and leveraging diaspora investment for the economic development of the nation respectively. Two more similar dialogues will be organised under the ECON Talks Series. Nepal is bound to witness an unavoidable economic crisis if appropriate actions are not taken on time. To solve the national economic challenges, good public policies along with result-oriented political leadership are required. Daayitwa has introduced the ‘ECON Talks’ with a mission to advocate and promote evidence-led policy decisions for economic growth of the nation. The ECON Talks Policy Dialogue Series is a collaborative effort of Daayitwa and National Democratic Institute (NDI) that aims to support the MPs to engage with stakeholders on key economic policy issues regarding Nepal’s economic development. Daayitwa is a non-profit, non-governmental organisation that envisions an  enterprising Nepal, where every individual has opportunities for a prosperous future. READ ALSO:

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