Partnership For Prosperity Launched

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Prabhu Bank Ltd. and Idea Studio Nepal have officially launched the jointly initiated project ‘सहयात्रा समृद्धिको-Partnership for Prosperity’ by handing over Rs 1,00,000 to ten female Safa tempo drivers on September 22, 2020.The relief loan scheme for economic recovery is aimed at supporting female safa tempo drivers and school/college teachers to help them manage their lives and resume their ongoing businesses amid Covid-19 pandemic.

The project took into action after Prabhu Bank and Idea Studio Nepal signed the Memorandum of Understanding (MoU) at Prabhu Bank Head Office, Babarmahal on August 19, 2020. Dr. Tshering Lama, Founder and Executive Chairperson, Idea Studio Nepal mentioned,“सहयात्रा समृद्धिको – Partnership for Prosperity, loan scheme is to restore human dignity. It focuses on creating financial management and discipline for a lifetime. Financial literacy is incorporated in the loan process so that the client has access to knowledge and skills to manage personal finances, making them self-reliant.” “The COVID crisis has made a lot of us realize our financial unpreparedness, so this loan scheme is a good opportunity for people to be well equipped with financial knowledge and skills,” he further added.

Similarly Ashok Sherchan, CEO, Prabhu Bank Ltd shared, “Considering the ongoing economic crisis, Prabhu Bank in association with Idea Studio Nepal aims to support women safa tempo drivers and school/college teachers from Kathmandu valley, providing them loan at a minimal interest rate.”

According to Ram Prasad Ghimire, Manager at Nepal Safa Pariwan Sangh, there are more than 200 female tempo drivers in Kathmandu valley, a majority of whom are struggling to run their families.Similarly, schools and colleges have also been closed since March and many private schools have been unable to pay salaries to their teachers, citing government instruction to not charge any fee to school children after closure of schools and colleges. Institutional School Teachers Union (ISTU) Chairperson Hom Kumar Thapa informs that over 300 teachers of private schools across Nepal have lost their jobs during four months of lockdown in the country between March 24 to July 22,2020. The relief loan scheme will provide Rs 4,00,000 loan to teachers who are in difficult economic situations.