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Microfinance Victims and Government Reach Agreement After Protests

March 15, 2024
Microfinance Victims and Government
Photo: Khabarhub

After days of protests, microfinance victims and government representatives have reached a six-point agreement to address the concerns of people overburdened by microfinance loans.

The agreement was signed on Friday at the Ministry of Finance after talks between a government team and representatives of those affected by predatory lending practices. Narayan Prasad Risal of the Ministry of Finance and Punaram (Maniram) Gyawali, coordinator for the protesters, were the signatories.

The agreement comes in response to widespread demonstrations in Kathmandu by microfinance victims. To address the issue, the Ministry of Finance formed a dialogue committee led by Risal, inviting representatives of those affected for negotiations.

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Key members of the government dialogue committee:

  • Narayan Prasad Risal, Ministry of Finance (Head)
  • Narayan Prasad Bhattarai, Ministry of Home Affairs
  • Jhaindra Guragain, Ministry of Law
  • Representatives from Nepal Rastra Bank (Central Bank)
  • Keshav Upreti, Ministry of Finance (Secretary)

Further details on the specific points of the agreement are expected to be released soon. This development represents a significant step towards resolving the ongoing crisis faced by microfinance borrowers in Nepal.

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