Sakchyam-BoK pact

KATHMANDU: Sakchyam Access to Finance Programme and Bank of Kathmandu (BoK) have signed a partnership agreement to open new branches to enhance access to finance in rural and semi urban market segments. The partnership, which is the second between Sakchyam and BoK since February 2015, will open a total of six new BoK branches in Bardia, Dang, Kanchanpur, Kailali, Pyuthan and Rupandehi, as per a press statement. With the new partnership, rural and semi urban market segments will be able to enjoy required financial services at ease, boosting the region’s economic activity. BoK, in partnership with Sakchyam, will focus on providing a complete suite of financial products, that is, savings, micro loans targeting women entrepreneurs, smallholder farmers, remittance facility alongside tailored financial services to SME/MSMEs operating in the region. BoK will also seek to extend its financial coverage benefitting various other marginalised communities through ‘wholesale loans’ to local financial institutions.

Gionee’s Rs 5.5m aid

KATHMANDU: Gionee, a leading global provider of mobile devices, has provided Rs five million to the Prime Minister’s Disaster Relief Fund in Nepal. On Tuesday, William Lu, president of Gionee, handed over a cheque of the said amount to Prime Minister Sushil Koirala. Gionee has also set up Gionee Sahayogi Haat Kosh and deposited Rs 500,000 to initiate this fund. From this fund, Gionee is building 25 temporary houses for the earthquake victims in Bhaktapur. On Tuesday, Lu also visited Bhaktapur, where a few temporary shelters were handed over to Roshan Bhayadyo, treasurer of a local development committee, as per a press statement. Gionee will help build more temporary houses in the coming months. In addition to this, amidst a programme, Miss Nepal 2015, Evana Manandhar announced that for every Gionee smartphone sold in Nepal over next three months, Rs 50 will be collected in the Gionee Sahayogi Haat Kosh. The amount raised will be donated to Bal Mandir, where it will go towards supporting at least five children.

China to graduate

PARIS: China aims to graduate from its status as a developing country by the middle of this century, Chinese Premier Li Keqiang said on Wednesday. “China remains the world’s biggest developing country,” Li said at the Organisation for Economic Co-operation and Development (OECD). “Our goal is that by the middle of this century, China will enter the ranks of the mid-developed countries,” he told the Paris-based club of mostly developed countries.