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| Rural credit is crucial in improving lives in the farm |
Bhutan needs to adopt a national policy on micro finance. This was the message at a seminar on creating a suitable environment and regulatory framework for micro financing yesterday.
“There is no national policy at the moment,” said Dr Pema Choephyel, a BDFCL agriculture specialist who spoke at the seminar. With a national policy, Dr Pema told Kuensel, rural poverty alleviation would become more effective and faster. “We’ll be able to focus and target groups critically in need of credits,” he said, “It would also steer us in the right direction on how micro financing actually should be instituted according to international standards.”
More than 20 percent of Bhutan’s population live on less than US$ 1 a day, the threshold considered necessary to maintain an adequate standard of living. The government plans to reduce this poverty rate to less than 15 percent by 2013. Continue reading Microfinance policy crucial to alleviate poverty