Nepal’s credit union movement has been working to help members recover after last year’s earthquake, in which nearly 9,000 lives were lost. Around 900,000 homes were also damaged in the earthquake. The Nepal Federation of Saving and Credit Cooperative Union Limited (NEFSCUN) estimates that the earthquake has taken the lives of more than 600 of its members.
A year on from the earthquake, the rebuild process is slow, and 770,000 households continue to wait for promised subsidies to rebuild their homes. Work on the reconstruction started in January this year.
A number of saving and credit co-operative (Sacco) buildings were also damaged in the earthquake, which posed greater challenges in conducting regular activities. To help the country’s credit unions get back on their feet, the World Council of Credit Unions (Woccu), through its Worldwide Foundation has offered a $175,000 grant to repair building structures, replace equipment and train management officers in disaster recovery.
As well as supporting the reconstruction process, the grant helped provide psychological counselling services to NEFSCUN staff and members. The grant enabled 220 Saccos to receive essential basic operating office equipment, software support, stationary, relocation support and lost information recovery assistance. Another 41 Saccos were repaired and reconstructed while 23 co-operative managers and NEFSUN officers received psychological training.
– Anca Voinea
