Laxmi Capital News
FWEAN seeks more funding for women entrepreneurs

Federation of Woman Entrepreneurs' Associations of Nepal(FWEAN), the apex body of women Entrepreneurs in Nepal, has organized aroundtable discussion on the need to increase entrepreneurship development fundloan for SMEs promoted by women.

The major objective of this roundtable discussion was toincrease Entrepreneurship Development Fund (EDF) loan to support the growth andsustainability of women-owned enterprises, and to consequently generateemployment opportunities, which is important for the economy of Nepal, thefederation said in a statement issued on Tuesday. “Higher loan amounts willparticularly help women entrepreneurs who are exporters and need to scale uptheir businesses,” it added.

Nepali women SME entrepreneurs need an average of Rs 500,000due to the high cost of raw materials and the necessity for storage of rawmaterials during off-seasons; high labor costs; and expensivemachineries. 

According to the Department of Small and Cottage Industry(DCSI), 765 such enterprises have received loan from its offices in 41districts. In the fiscal year 2016/2017, 337 women entrepreneurs receivedbetween Rs 100,000 and Rs 250,000 in loans from DCSI, while another 47 receivedloans above Rs 300,000.  

The government is currently lending Rs 100,000 to Rs500,000 to women entrepreneurs under EDF. Women entrepreneurs have asked thegovernment to increase lending under EDF to Rs 1 million to Rs 2.5 million.

Source : My Republica, 25th April 2018

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