Kathmandu, February 27

President Bidya Devi Bhandari has stressed on ensuring poor people’s access to the services provided by banks and cooperatives.

Addressing the 12th Annual General Assembly of Nepal Cooperative Bank in Kathmandu today, President Bhandari said economic development in the rural areas was possible through increased financial activities at the local level. Cooperatives should be developed as the base for attaining economic development in the rural areas, she said.

Campaign related to cooperatives should be promoted to generate employment opportunities and alleviate poverty, said President Bhandari.

Deputy Prime Minister and Minister for Women, Children and Social Welfare CP Mainali argued that the mere contribution from private and public sectors was not enough to boost economic activities. He added the new constitution had given significant space for cooperatives to flourish.

Chairman of National Cooperative Federation of Nepal, Keshab Prasad Badal, said the new statute had recognised cooperatives’ contribution to economic development of the country. However, the existing Cooperatives Act needs to be revised as per the demand of time, he said.

On the occasion, President Bhandari felicitated cooperative campaigners Om Prakash Sharma (posthumous), Rajesh Hari Joshi, Govinda Bahadur Malla, Bishwa Mohan Acharya and Nabin Poudel.

The bank has been providing services through 36 branches across the country.