News

Government of Nepal Makes Social Protection Grants Electronically
  • August 20, 2013

<p /> <p style="margin: 0in 0in 10pt;" class="MsoNormal">UNCDF together with the Ministry of <span lang="EN-GB">Federal Affairs and Local Development (MoFALD) have reached an agreement with </span>Siddharta Bank Limited (SBL) to deliver scholarship payments for the Human Development and Social Protection Pilot (HDSPP) under the <a href="https://www.uncdf.org/en/nepal">Local Governance and Community Development Programme (LGCDP).</a></p> <p style="margin: 0in 0in 10pt;" class="MsoNormal">This is the first agreement that outsources the delivery of government social payments to <span lang="EN-GB">commercial financial institution </span>in Nepal and which will do so electronically. This is an important step towards reducing fiduciary risks currently linked to social payments in Nepal and to increase the financial inclusion of 26.000 recipients of such transfers.</p>